Business and Economy

NGX All-Share Index recovers from slump and gains 0.22%

Ending five straight sessions of losses, Nigerian equities recovered as the benchmark Index rose by 0.22% to settle at 48,675.33 points. Bullish sentiment in index heavyweights, BUACEMENT (+1.27%) and NESTLE (+0.23%) drove the market’s rebound. In addition, following strong H1 22 results, STANBIC (+8.93%) contributed to keep the market in the green despite losses in other Tier-1 banks, ACCESSCORP (-1.20%), UBA (-0.71%) and GTCO (-0.50%). Consequently, the year-to-date (YTD) return rose to 13.95%, with market capitalisation gaining ₦58.35bn to close at ₦26.25trn.
Analysis of today’s market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 5.98%. A total of 167.57m shares valued at ₦3.37bn were exchanged in 3,751 deals. ACCESSCORP (-1.20%) led the volume chart with 27.90m units traded, while MTNN (+0.00%) led the value chart in deals worth ₦725.24m.
Market breadth closed positive at a 1.27-to-1 ratio, with advancing issues outnumbering declining ones. NEM (+10.00%) topped thirteen (13) others on the leader’s table, while FIDSON (-9.80%) led ten (10) others on the laggard’s log. Find below key highlights of market activities.

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