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Nigeria Market Trends: The Bulls Are Returning To The Market

September 3, 2021

The Nigerian Stock Exchange closed the second day of September in green after being in the red for the last 3days.  The Market Indices were positive sentiments due to sell-offs and buy-interests as the benchmark All-Share Index (ASI) appreciated by 17 basis points, while the market capitalization increased by N35.44 billion.

The NGX ASI closed at 39,252.19 points, to reflect a gain of 0.17% from the previous trading day.
At the close of the market today, Thursday 2nd of September 2021, the stock exchange market value currently stands at N20.45 trillion from N20.42 trillion in the previous trading day. Its Year-to-Date (YTD) return, however, is currently settled at –2.53%.
The market breadth closed negative as CHAMS led 16 Gainers, and 18 Losers topped by UNITY BANK at the end of today’s session.
 
 
 
NGX ASI Top gainers
  • CHAMS up +4.76% to close at N0.22
  • PRESTIGE up +4.35% to close at N0.48
  • WEMABANK up +3.66% to close at N0.85
  • MANSARD up +3.49% to close at N0.89
  • JBERGER up +2.97% to close at N26.00

NGX ASI Top losers
  • UNITY down –8.62% to close at N0.53
  • OANDO down –7.03% to close at N4.10
  • UBN down –6.54% to close at N5.00
  • FTNCOCOA down –5.77% to close at N0.49
  • HONYFLOUR down –4.88% to close at N3.90

NGX ASI Top Traded by Volume
  • ACCESS – 51,072,639.00 units
  • TRANSCORP – 36,094,729.00 units
  • HONYFLOUR – 18,635,309.00 units
  • MBENEFIT – 17,679,664.00 units
  • SOVRENINS – 16,801,150.00 units

NGX ASI Top Traded by Value
  • ACCESS – N471,191,176.80
  • ZENITHBANK – N329,092,289.15
  • GTCO – N179,347,070.30
  • DANGCEM – N171,861,106.10
  • MTNN – N97,641,624.30
 
Analyst View

The positive detour in the indices was triggered by increased market activities in the shares of Access Bank, Zenith, and Guaranty Trust Banks respectively. The number of gainers has increased substantially to 16 from the previous day 9 while losers moderated from 17 to 16.