NGX-ASI strengthens by 73bps
For today’s trading session, the NGX-ASI gained 73bps to close at 44,788.14 points. Consequently, the Year-to-date (YTD) return of the market strengthened to 4.9% from 4.1% the previous trading day.
Top gainers in the market were led by BUACEMENT (+10.0%), SUNUASSUR (+9.4%) and JAIZBANK (+9.0%). On the other hand, ROYALEX (-9.6%), MULTIVERSE (-8.5%) and MAYBAKER (-6.7%) posted as today’s top losers.
For today’s trading activities, the total volume traded and total value traded gained 120.2% and 25.8% respectively to 159.2mn units and ₦2.7bn. MBENEFIT, STERLNBANK and JAIZBANK led the volume chart with 47.4mn units, 24.4mn units and 10.6mn units respectively.
However, AIRTELAFRI, MTNN and GTCO led the value chart with ₦1.0bn, ₦847.9mn and ₦115.7mn respectively.
For indices under our purview, performance was more bearish as three indices posted red and two indices posted green.
Performance indicates that the Insurance index led the losers with 24bps, followed by the Oil and Gas and Consumer Goods indices which declined by 18bps and 10bps respectively.
The losses were majorly attributed to investors’ selloffs in ROYALEX (-9.6%), OANDO (-1.2%) and HONYFLOUR (-3.3%)
Meanwhile, the Industrial Goods and Banking indices gained 400bps and 50bps respectively, which were accredited to gains in WAPCO (+1.3%) and JAIZBANK (+9.0%).
Quick Insight (Today’s top gainer)
Source: BRIU
BUA Cement Plc, Nigeria’s second largest cement company, increased Profit After Tax (PAT) by 24.5% to N90.1 billion for the fiscal year ended December 31, 2021, compared to N72.3 billion in the previous year.
The company’s audited financial results, which were released on the Nigerian Stock Exchange (NGX), showed that profit for the fiscal years ended 2018 and 2019 stood at N64.1 billion and N60.6 billion, respectively, representing a 5.4% decrease and a 19.4% increase year-on-year.
Daily Currency Update
On daily currency updates, I&E and the parallel market’s prices closed at ₦441.38/US$1.00 and ₦780/US$1.00 respectively. The current P2P Forex market price is ₦764.79/US$1.00. Nigeria’s external reserves is currently US$37.68bn.
