Home Stock Market MTNN leads rally on NGX… ASI up 1.0%

MTNN leads rally on NGX… ASI up 1.0%

by Business News Report

Today, the NGX All-Share Index gained 1.0% to 42,435.16 points due to buying interest in MTNN (+4.5%), UBA (+5.3%), and DANGSUGAR (+6.7%). Accordingly, YTD return improved to 5.4% while market capitalisation rose ₦217.2bn to ₦22.1tn. Trading activity strengthened as volume and value traded rose 1.6% and 8.7% respectively to 649.8m units and ₦7.2bn. FBNH (441.9m units), STERLNBANK (64.4m units), and GTCO (20.7m units) led by volume while FBNH (₦5.0bn), GTCO (₦501.4m), and SEPLAT (₦367.1m) led by value.

Across our sector coverage, performance was bullish as all indices gained. The AFR-ICT and Banking indices led gainers, up 2.2% and 1.8% respectively following buying interest in MTNN (+4.5%), UBA (+5.3%), and ACCESS (+3.5%). Trailing, the Oil & Gas and Consumer Goods indices rose 114bps and 64bps respectively due to bargain hunting in SEPLAT (+2.5%), DANGSUGAR (+6.7%), and HONYFLOUR (+6.5%). Similarly, the Insurance and Industrial Goods indices advanced 62bps and 10bps respectively on the back of gains in MANSARD (+7.2%) and WAPCO (+2.1%). 

Investor sentiment, as measured by market breadth (advance/decline ratio), improved to 1.7x from 1.1x as 19 stocks advanced while 11 stocks declined. MEYER (+7.7%), MANSARD (+7.2%), and DANGSUGAR (+6.7%) led gainers while CUTIX (-9.7%), ROYALEX (-8.1%), and MBENEFIT (-7.7%) led decliners. In the next trading session, we expect the market to sustain its bullish performance on improved sentiment.

Market Statistics for Wednesday, 8th December 2021 

Market Cap (N’bn)22,142.6
Market Cap (US$’bn)53.9
NGX All-Share Index42,435.16
Daily Performance %1.0
WTD Performance %0.6
MTD Performance %(1.9)
QTD Performance %5.5
YTD Performance %5.4
Daily Volume (Million)649.8
Daily Value (N’bn)7.2
Daily Value (US$’m)17.5

Source: Afrinvest

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