WED, NOV 01 2023-theGBJournal|The bulls continued to dominate in the domestic bourse, as bargain hunting in AIRTELAFRI (+10.0%) drove the benchmark index 1.9% higher.
Consequently, the NGX ASI rose above the 70,000 psychological mark, closing at 70,581.76 points – the highest level on record. Thus, the Year-to-Date return advanced to +37.7%.
The total volume traded increased by 22.9% to 594.05 million units, valued at NGN10.79 billion, and exchanged in 7,294 deals. UBA was the most traded stock by volume and value at 163.56 million units and N3.47 billion, respectively.
Analysing by sectors, the Insurance (+3.7%) and Banking (+2.2%) indices recorded gains, while the Industrial Goods and Oil & Gas indices closed flat. The Consumer Goods (-0.1%) index was the sole loser of the day.
As measured by market breadth, market sentiment was positive (2.4x), as 37 tickers gained relative to 15 losers. AIRTELAFRI (+10.0%) and CHAMS (+9.9%) recorded the most significant gains of the day, while CAVERTON (-7.7%) and CHAMPION (-6.9%) topped the losers’ list.
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