Home Finance NGX-ASI gained 2.0% due to buying interest in MTNN, DANGCEM, INTBREW

NGX-ASI gained 2.0% due to buying interest in MTNN, DANGCEM, INTBREW

by Business News Report

Today, the NGX-ASI gained 2.0% to 52,838.45 points due to buying interest in MTNN (+9.2%), DANGCEM (+2.6%), and INTBREW (+9.9%). Accordingly, YTD return improved to 23.7% (previously 21.3%) while market capitalisation rose ₦556.9bn to ₦28.5tn. Meanwhile, volume and value traded advanced 23.9% and 39.8% respectively to 410.8m units and ₦7.0bn.

Across our coverage sectors, performance was bullish as all indices closed northward. The AFR-ICT and Consumer Goods indices led gainers, up 4.4% and 1.5% respectively due to price uptick in MTNN (+9.2%), INTBREW (+9.9%), and NB (+2.6%). Trailing, the Industrial Goods and Insurance indices rose 1.4% and 0.9% respectively on account of buying interest in DANGCEM (+2.6%), WAPCO (+1.4%), LINKASSURE (+9.5%), and AIICO (+5.3%). Similarly, the Oil & Gas and Banking indices inched higher by 10bps and 3bps respectively, following gains in ARDOVA (+1.1%), OANDO (+1.7%), ZENITH (+0.2%), and UBN (+1.6%).

Investor sentiment, as measured by market breadth, weakened to 0.33x from 0.36x as 42 stocks gained, 27 lost while 45 closed flat. Tomorrow, we expect the positive performance to be sustained as investors continue to hunt for bargains.

Market Cap (₦’bn)                                       28,485.73 

Market Cap ($’bn)                                        68.3

NGX All-Share Index                                   52,838.45

Daily Performance %                                   2.0%

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