Home Stock Market Zenith, AirtelAF boost stock market as investors gain N412bn

Zenith, AirtelAF boost stock market as investors gain N412bn

by Business News Report

Today, bullish sentiment pushed the NGX-ASI 1.7% higher to close at 45,430.14 points, supported by AIRTELAF (+10.0%), SEPLAT (+4.4%), and ZENITH (+0.4%). Consequently, YTD return improved to 6.4% while market capitalisation increased ₦417.2bn to ₦24.5tn. Volume and value traded rose by 7.5% and 365.3% respectively to 252.9m units and ₦8.9bn. GTCO (25.5m units), DANGCEM (24.5m units), and FBNH (23.1m units) led by volume while DANGCEM (₦6.5bn), GTCO (₦649.4m), and FBNH (₦277.2m) led by value.

Performance across our coverage sectors was bullish as 4 indices gained, 1 lost while the Industrial Goods index closed flat. Leading the advancers, the AFR-ICT index surged 5.0% as investors cherry-picked AIRTELAF (+10.0%). Similarly, the Oil & Gas and Insurance indices rose 2.2% and 0.6% respectively following price upticks in SEPLAT (+4.4%), CORNERST (+6.0%) and MANSARD (+1.7%), while ZENITH (+0.4%) and ACCESS (+0.5%) drove a 0.5% increase in the Banking index. On the other hand, the Consumer Goods index shed 2bps due to sell-offs in CHAMPION (-1.2%) and HONYFLOUR (-0.6%). 

Investor sentiment, as measured by market breadth (advance/decline ratio), softened to 0.9x from 2.0x as laggards (17) outpaced gainers (16). AIRTELAF (+10.0%), CORNERST (+6.0%), and COURTVILLE (+5.3%) led gainers while FTNCOCOA (-7.7%), CHIPLC (-7.2%), and REGALINS (-6.7%) led decliners. In tomorrow’s trading session we expect the positive sentiment to linger.

Market Statistics for Wednesday, 19th January 2022 

Market Cap (N’bn)24,476.9
Market Cap (US$’bn)59.6
NGX All-Share Index45,430.14
Daily Performance %1.7
WTD Performance %2.2
MTD Performance %6.4
QTD Performance %6.4
YTD Performance %6.4
Daily Volume (Million)252.9
Daily Value (N’bn)8.9
Daily Value (US$’m)21.7

Source: Afrinvest

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