NGX, NASD open September trading upbeat as investors realign for value brands

Investors at the NGX and NASD equities market opened September trading upbeat, taking position in value brands.

The Nigerian equities market closed Tuesday’s session on a positive note, as the NGX All-Share Index (ASI) gained 0.77% to close at 246,082.63 points, while market capitalisation gained 0.77% to close at N158.96trn

This brought the ASI year to-date return to 58.14%, from 56.93% in the previous session.

The positive sentiment was driven by buying interest in stocks such as ARADEL (+8.83%), NESTLE (+5.83%), and FIRSTHOLDCO (+1.17%), which outweighed losses in NAHCO (-9.22%), TRANSCORP (-1.63%), and ABCTRANS (-9.52%).

Trading activity was positive, with total volume traded advancing by 7.44% to 651.32mn units, while transaction value advanced by 5.35% to N40.77bn.

ACCESSCORP, which grew in price by 1.25%, led the volume chart with 129.89mn units traded, while MTNN (0.00%) led the value chart with transactions worth N4.69bn

Market breadth was positive at 2.05x, reflecting a higher number of gainers relative to losers, as forty-one (41) stocks advanced against twenty (20) decliners. FTNCOCOA, which gained 10.00%, emerged as the session’s top gainer, while TRIPPLEG declined by 9.72% to lead the losers’ chart.

NASD Summary

The NASD OTC market closed today’s session on a positive note, as the NASD Security Index (NSI) advanced by 2.07% to 4,395.94 points.

Market capitalisation also rose by 2.07% to N2.64trn, while the market’s year-to-date (YTD) return improved to 24.05%, from 21.53% in the previous session.