NGX opens September bullish, as equities gain N535bn

In what appears to be a continuation of the bullish sentiment that characterized many days of its trading sessions in August, the Nigerian equities market opened the first trading session in September on Friday bullish as investors sustained their confidence in the market.

Consequently, the All-Share Index (ASI) rose by 1.47% higher to close at 67,527.19 index points compared to 66,548.99 index points recorded in the previous day’s trading session.

Also, the market capitalization of equities gained N535 billion to close at N36.958 trillion, indicating 1.47% higher than the N36.423 trillion recorded at the close of Thursday’s trading session.

Available data from the NGX on the market indices also reflected that the volume of traded stocks totaled 503.75 million, valued at N6.91 billion recorded in 7.606 deals.

As expected, the market breadth also closed positive as TANTALIZER (10.00%) led gainers’ chart; PRESTIGE (-10.00%) led the losers’ while TRANSCORP was the most traded equity by volume at the end of the day’s trading session.

However, despite the impressive indices of the market, trading volume was 18.88% lower than the previous day’s session of 503.75 million units of shares.

The NGX further reported that TANTALIZER, DANGOTE SUGAR and LASACO led the top three gainer’s chart as they all gained +10.00% each while PRESTIGE, GLAXOSMITH and HONEY FLOUR led the top three losers’ chart as they lost –8.70%, -6.47%, and –5.88% respectively

The data further indicated the bourse recorded lower trading activity in terms of volume as 503.75 million units of shares were traded on Friday compared to the 620.98 million traded on Thursday.

According to the NGX, TRANSCORP led the chart in terms of volume as 83.31 million units were traded, while FIDELITY BANK (58.33 million) and ACCESS HOLDINGS (34.54 million) rounded up the top three traded stocks.

In terms of value traded, ACCESS HOLDINGS (N588.16 million) led the chart followed by TRANSCORP (N541.81 million) and FIDELITY BANK (N449.24 million) to round up the top three on the value chart.


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