The NGX-ASI rose 73 basis points to close at 44,788.14 points on Tuesday. As a result, the market’s year-to-date (YTD) return increased to 4.9% from 4.1% on the previous trading day.
BUACEMENT (+10.0%), SUNUASSUR (+9.4%), and JAIZBANK (+9.0%) were the market’s top gainers. The biggest losers were ROYALEX (-9.6%), MULTIVERSE (-8.5%), and MAYBAKER (-6.7%).
Total volume traded and total value traded increased by 120.2% and 25.8%, respectively, to 159.2 million units and 2.7 billion. MBENEFIT, STERLNBANK, and JAIZBANK topped the volume chart with 47.4 million, 24.4 million, and 10.6 million units, respectively. AIRTELAFRI, MTNN, and GTCO, on the other hand, led the value chart with 1.0 billion, 847.9 million, and 115.7 million, respectively. The performance of indices under our purview was more bearish, with three indices posting red and two indices posting green.
The Insurance index led the losers with a 24bps decline, followed by the Oil and Gas and Consumer Goods indices, which fell by 18bps and 10bps, respectively. The losses were primarily due to investor selloffs in ROYALEX (-9.6%), OANDO (-1.2%), and HONYFLOUR (-3.3%), in that order. Meanwhile, the Industrial Goods and Banking indices rose 400bps and 50bps, respectively, thanks to gains in WAPCO (+1.3%) and JAIZBANK (+9.0%).
BUA Cement Plc, Nigeria’s second largest cement company, increased Profit After Tax (PAT) by 24.5% to N90.1 billion in the fiscal year ended December 31, 2021, from N72.3 billion the previous year.
Profit for the fiscal years ended 2018 and 2019 stood at N64.1 billion and N60.6 billion, respectively, representing a 5.4% decrease and a 19.4% increase year on year, according to the company’s audited financial results, which were released on the Nigerian Stock Exchange (NGX).
The I&E and parallel market prices closed at 441.38/US$1.00 and 780/US$1.00, respectively, according to daily currency updates. The current price of the P2P Forex market is 764.79/US$1.00. Nigeria’s external reserves are currently worth US$37.68 billion.
