20 October 2022: The Nigerian equity market closed the trading session on a bullish note with the NGX all-share index increasing by 30 basis points (bps) to 45366.32. Conversely, the year-to-date return of the market weakened to 3.78 percent. The trading volume was 119.22 million units, declining by 27.9 percent from the previous day, while the total value that exchanged hands dropped by 12.9 percent to N3.2 billion at the close of the day’s trading.
Sectoral performance was mixed for the indices under our review. The Banking, Pension and Oil and Gas sectors recorded a bearish performance as their indices closed red. On the other hand, Consumer Goods and Insurance sectors were bearish having closed red. The Banking sector index having the highest decrease, declined by 82 basis points (bps), Oil and gas by 39bps and Pension by 11bps. On the other hand, the Insurance index went up by 22bps and that of Consumer Goods by 20bps.
The top 5 stocks gainers in the market were CWG (9.59%), Japaul Gold and Ventures (7.69%), Wapic Insurance (5.88%), Dangote Sugar Refinery (3.92%), and FIN Cocoa Processors (3.70%).
Conversely, some stock losers emerged at the end of the stock trading day. The top 5 decliners in the market were Beta Glass (-9.98%), Aluminium Extrusion Industries (-9.72), R T Briscoe (-9.68), Mutual Benefits Assurance (-9.68), Regency Alliance Insurance Company (-7.69).
