Unilever, InterBrew Buoy NGX Index, Investors Gain N72bn
Unilever Nigeria, International Breweries and other risers drove the Nigerian Exchange (NGX) All-share index (ASI) higher by 5 basis points on Thursday.
The local bourse rebounded from sell pressures that knocked off N1.62 trillion from the local bourse the previous day. The market has been fluctuating in the last four trading sessions, with even ups and downs – reflecting dampened sentiment.
Today’s performance was largely driven by price gains in UNILEVER (+9.80%), INTBREW (+3.66%), UACN (+3.80%), and WEMABANK (+1.21%), stockbrokers said in their separate reports.
The NGX All-Share Index edged up 0.05% to settle at 249,175.39 points, nudging the year-to-date return to +60.13% and adding ₦72.44 billion to market capitalisation, which closed at ₦159.73 trillion.
Market breadth was broadly negative at 0.45x, as 40 decliners led by BERGER, LEARNAFRICA, DAARCOMM, RTBRISCOE, and MAYBAKER outpaced 18 advancers, with INTENEGINS, ABCTRANS, UNILEVER, ACADEMY, and EUNISELL posting the most notable gains.
Trading activity was varied, as volume and deal count rose 76.39% and 5.92% to 1.06 billion shares and 62,448 transactions, respectively, while turnover edged down 5.35% to ₦30.97 billion.
Sectoral performance was mixed, as Insurance (- 3.55%), Oil & Gas (-0.10%), and Industrial (-0.01%) weighed on the index, while Consumer Goods (+0.52%) and Banking (+0.03%) bucked the trend, and the Commodity sector ended flat.
Heading into Friday’s session, the market is expected to close bearish as subdued investor participation and profit-taking activities continue to weigh on sentiment. Oil Prices Rise as U.S. Stockpiles Fall Amidst Supply Risk
