NGX ASI Increases By Over 600 Points, Steadily Eliminating YTD Losses

After the holidays, the stock exchange market made a bullish trend at the end of today’s trading session posting gains that increased the index by +632.87 points.

The All-Share Index increased by +1.67% closing at 38,585.52 from 37,952.65 index points. The oil sector dominated with Total and Oando emerging as the top performers while AllCO took the biggest loss in today’s trading session.

• The stock exchange market value currently stands at N20.1 trillion. Its Year-to-Date (YTD) returns currently stands at -4.18%.
• The market breadth closed positive as TOTAL led 22 Gainers, and 12 Losers topped by AIICO at the end of today’s session.
• The stock market has declined -1,685.20 base points since the start of the year.

NGX ASI top gainers

1. TOTAL up +10.00% to close at N184.80
2. CUTIX up +9.77% to close at N4.38
3. OANDO up +9.73% to close at N3.61
4. DANGCEM up +7.83% to close at N248.00
5. COURTVILLE up +4.55% to close at N0.23

NGX ASI top losers

1. AIICO down -8.70% to close at N1.05
2. SOVRENINS down -6.45% to close at N0.29
3. VERITASKAP down -4.00% to close at N0.24
4. LIVESTOCK down -3.55% to close at N1.90
5. ARDOVA down -3.23% to close at N15.00

Outlook

• Market sentiments trend towards the bulls as 22 gainers outweigh 12 losers.
• Nairametrics advises cautious buying in this era of growing uncertainties