The Nigerian Exchange Limited, NGX kicked off the first trading session of the year on a positive note, following bargain hunting on BUA CEMENT PLC (+7.3%) stock.
Thus, the All-Share Index advanced by 309.79 basis points or 0.7% to 43,026.23 basis points from the 42,716.44 basis points obtained on the 31st of December, 2021.
The Market Capitalization, however, advanced by N887 billion or 4.0% from N22,297 trillion to N23,184 trillion.
The total volume of trades decreased by 52.4% to 216.65 million units, valued at N1.52 billion, and exchanged in 4,080 deals.
CHAMS PLC was the most traded stock by volume at 29.87 million units, while ZENITH BANK PLC was the most traded stock by value at N696.47 million.
As measured by market breadth, market sentiment was negative as 27 stocks lost relative to 18 gainers.
The three most significant losers on Tuesday were ARDOVA PLC which started the day at N13.00k per share but closed at N11.70k per share, losing N1.30k or 10.00 percent.
Right after is N NIG. FLOUR MILLS PLC which declined from a previous selling price of N8.00k per share to N7.20k per share, falling 0.80k or 10.00 percent.
And VITAFOAM NIG PLC fell from N22.50k per share to N20.25k per share by N2.25k or 10.00 percent.
Conversely, the three top gainers for the first trading day of the year are ACADEMY PRESS PLC with an opening selling price of 0.50k per share, upping to 0.55k per share by 0.05k or 10.00 percent.
Next is WEMA BANK PLC which had an opening selling price of 0.72k per share, advanced to 0.79k per share by 0.07k or 9.72 percent.
CORNERSTONE INSURANCE PLC commenced the day’s trading at 0.46k per share and grew to 0.50k per share by 0.04k or 8.70 percent.
Analysing by sectors, the Consumer Goods (-0.9%), Oil & Gas (-0.5%) and Insurance (-0.4%) indices declined while the Industrial Goods (+3.0%) and Banking (+0.4%) indices posted gains.
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