In the first trading day of the year, yesterday, January 3, 2023, the Nigerian equities opened on a bright note as the benchmark index gained 0.67% to close at 51,595.66 points – the highest point since 22 July 2022. The positive performance was driven primarily by gains in index heavyweight BUAFOODS (+10.00%) alongside Tier-1 banking names, GTCO (+1.09%), FBNH (+3.21%), and ACCESSCORP (+3.53%). As a result, year-to-date (YTD) return stood at 0.67% while market capitalization gained ₦187.90bn to close at ₦28.10trn.
Analysis of Tuesday’s market activities showed trade turnover settled lower relative to the previous session, with the value of transactions down by 40.86%. A total of 321.67m shares valued at ₦4.35bn were exchanged in 4,122 deals. FBNH (+3.21%) led the volume chart and value chart with 207.62m units traded in deals worth ₦2.47bn.
Market breadth closed positive at a 2.38-to-1 ratio with advancing issues outnumbering declining ones. BUAFOODS (+10.00%) led eighteen (18) others on the gainer’s log, while FCMB (-8.83%) topped seven (7) others on the laggard’s table
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