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The Nigerian equity market on Wednesday sustains uptrend to three successive trading sessions, following price appreciation on high valued stocks. Consequently, the market breadth closed positively, recording 37 gainers as against 5 losers.
NSE Trading Floor
In summary, the All-Share Index (ASI) increased by 249.36 absolute points, representing a growth of 1.03% to close at 24,452.23 points. Similarly, the overall Market Capitalization size gained N129.96 million, representing an increase of 1.03% to close at N12.74 trillion.
REDSTAREX emerged as the top gainer while UNITYBNK emerged as the top loser.
The uptrend was impacted by gains recorded in large and medium capitalized stocks, amongst which are; TRANSCORP (+5.48%), UACN (+4.32%), ZENITHABNK (+4.10%), UBA (+3.91%), VITAFOAM (+2.75%), GUARANTY (+2.36%), BUACEMENT (+1.89%), DANGCEM (+1.69%), OANDO (+1.09%), FBNH (+0.98%), and DANGSUGAR (+0.39%).
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MARKET STATISTICS
| CAP | N12,743,356,228,911.67 | One Day (ASI CHG) | +1.03% |
| Index | 24,452.23 | One Week (ASI CHG) | +3.13% |
| Volume | 436,838,465 | One Month (ASI CHG) | +6.68% |
| Value | N5,410,767,242.45 | Six Months (ASI CHG) | -8.68% |
| Deals | 5,195 | 52 Weeks (ASI CHG) | -16.75% |
| Gainers | 37 | Losers | 5 |
| Unchanged | 53 | Total | 95 |
| -8.90% |
Source: NSE, GTI Research
FOREIGN EXCHANGE
The Naira at the official window on Thursday closed unchanged at 361.00/$1, against yesterday’s position.
The Investors and Exporters (I&E) FX window opened at N388.00, traded high at N391.00 and eventually closed at N386.42, representing a 0.02% decline as against yesterday’s closing position. A total of $8.67 million was transacted through the I&E window today.
MONEY MARKET
Overnight(O/N) rate closed at 2.17%, representing a 0.13% depreciation against yesterday’s closing position, while Open Buy-Back (OBB) rate closed at 1.67%, representing a 0.23% depreciation against yesterday’s position.
| FIXED INCOME | |||
| Securities | P. Close | Close | Change |
| Bond | 495.85 | 489.95 | -5.90 bps |
| T.Bills | 325.06 | 275.01 | -50.05 bps |
| Note: BPS=> Basis Points |
Source: FMDQ, GTI Research
NASD OTC MARKET
The NASD OTC market on Wednesday remains unchanged as the Unlisted Securities Index (USI) closed at 688.51, as against yesterday’s closing position. Similarly, Market Capitalization closed at N505.76 billion. The aggregate volume and value declined by 87.82% and 90.90% respectively, as investors traded a total of 1,973 shares, worth N404,116 in 2 deal.
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Sector Performance
| Sector | % Change |
| NSE30 | 1.18 |
| BANKING | 2.81 |
| CONSUMER GOODS | 0.10 |
| INDUSTRIAL | 1.33 |
| INSURANCE | 1.67 |
| LOTUS ISLAMIC | 0.91 |
| OIL/GAS | 0.12 |
Top 7 Gainers
| Company | Pclose | Open | Close | Change | % Change |
| REDSTAREX | 3.10 | 3.10 | 3.41 | 0.31 | 10.00 |
| JAIZBANK | 0.55 | 0.55 | 0.60 | 0.05 | 9.09 |
| LASACO | 0.23 | 0.23 | 0.25 | 0.02 | 8.70 |
| WAPIC | 0.29 | 0.29 | 0.31 | 0.02 | 6.90 |
| TRANSCORP | 0.73 | 0.73 | 0.77 | 0.04 | 5.48 |
| CAVERTON | 2.75 | 2.75 | 2.90 | 0.15 | 5.45 |
| FIDSON | 3.10 | 3.10 | 3.25 | 0.15 | 4.84 |
Top 5 Losers
| Company | Pclose | Open | Close | Change | % Change |
| UNITYBNK | 0.52 | 0.52 | 0.50 | -0.02 | -3.85 |
| UNIONDAC | 0.31 | 0.31 | 0.30 | -0.01 | -3.23 |
| WAPCO | 11.30 | 11.30 | 11.00 | -0.30 | -2.65 |
| WEMABANK | 0.58 | 0.58 | 0.57 | -0.01 | -1.72 |
| ACCESS | 6.60 | 6.60 | 6.55 | -0.05 | -0.76 |
Top 7 Traders By Volume
| Company | Volume | Value(₦) | Current Price |
| ZENITHBANK | 75,074,197 | 1,217,317,239 | 16.50 |
| ACCESS | 50,760,970 | 329,226,755 | 6.55 |
| GUINNESS | 34,204,666 | 581,909,023 | 17.00 |
| UBA | 31,469,476 | 206,307,719 | 6.65 |
| GUARANTY | 31,074,709 | 740,916,268 | 23.85 |
| FBNH | 25,596,788 | 132,794,782 | 5.15 |
| LASACO | 20,128,470 | 4,963,001 | 0.25 |
Top 7 Traders By Value
| Company | Volume | Value(₦) | Current Price |
| ZENITHBANK | 75,074,197 | 1,217,317,238.90 | 16.50 |
| DANGCEM | 6,484,279 | 972,407,502.30 | 150.00 |
| GUARANTY | 31,074,709 | 740,916,268.40 | 23.85 |
| GUINNESS | 34,204,666 | 581,909,023.45 | 17.00 |
| ACCESS | 50,760,970 | 329,226,755.20 | 6.55 |
| NESTLE | 201,210 | 217,181,774.70 | 995.00 |
| WAPCO | 18,973,335 | 209,109,604.40 | 11.00 |
Read more https://gtigroupblog.com/redstarex-lead-36-others-to-sustain-equity-market-uptrend/