WED. 15 FEB, 2023-theGBJournal| The NGX Exchange closed flat Wednesday as the benchmark index managed to eke out a meager 2bps gain to close at 54,507.66 points.
Investors interest in Tier-1 banking names, ZENITHBANK (+0.20%), GTCO (+0.20%), and FBNH (+0.86%) managed to drive the market’s overall performance. Consequently, the year-to-date (YTD) return rose slightly to 6.35%, while market capitalization gained ₦6.18bn to close at N29.69trn.
Analysis of today’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 23.50%. A total of 134.46m shares valued at N4.36bn were exchanged in 2,905 deals. GTCO (+0.02%) led the volume chart with 42.35m shares traded while SEPLAT (+0.00%) led the value chart in deals worth N1.18bn.
Market breadth closed flat. LINKASSURE (+7.14%) topped thirteen others on the leader’s log while SOVRENINS (-6.67%) led thirteen others on the laggard’s table.
Nigeria’s headline inflation data published today by the National Bureau of Statistics (NBS) showed inflation advanced by 47bps in January to 21.82% y/y (December: 21.34% y/y).
The outturn is 50bps higher than Cordros’ estimate (21.32% y/y) and 52bps higher than Bloomberg’s median consensus estimate (21.30% y/y). Likewise, on a month-on-month basis, headline inflation increased by 15bps to 1.87% (December: 1.71% m/m).
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