NGX ends Week 1 of 2022 on Bullish Note

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The Nigerian bourse ended trading for the first week of the yearon a bullish money the ASI grew by 0.57% to close at 43,854.42 points. This was propelled by the increase in the prices of BUAFOODS, ZENITHBANK, FBNH, GUINNESS, and ARDOVA. Thus, the Year-to-Date (YTD) returns improved to 8.90%.

The activity level finished on a positive note as the total volume and value exchanged surged by 126.31% and 481.35% to 395.15 million units and N12.40 billion respectively.  The most traded stock by volume and value was BUA FOODS, which traded 204.59 million units valued at N10.06 billion. Investors’ sentiment as measured by the market breadth was positive (3.33x) as 30 stocks advanced against the 9 decliners.

Sectoral performance closed positive as all the sub-indices we cover closed in green. The Oil & Gas index topped the gainers’ table, up 0.98% due to price increase in ARDOVA and OANDO. Furthermore, the Banking, Industrial Goods, Consumer Goods, and Insurance indices followed suit, up 0.44%, 0.26%, 0.19%, and 0.01% respectively as a result of appreciation in ZENITHBANK, FBNH, WAPCO, GUINNESS, MANSARD, and CORNERSTONE.