Equity cap rises by N47 billion and causes a bullish trend in the market

Bullish implies a belief that the market, a sector, or a specific stock will rise in value. It's a forecast for steadily rising security prices. Typically, a bigger percentage of market participants are bullish than bearish, though this may not always be the case.

A bull market is a market that is trending upward. Bonds, real estate, currencies, and commodities are all examples of tradeable markets, although the word is most usually used to describe a rising stock market.

Bull markets can endure for months or even years at a time. They are the polar opposite of a bear market, in which prices fall. Bull markets can be disrupted for long periods of time by bear markets.

As the benchmark All-Share Index (ASI) gained 19 basis points, the NGX closed on a bullish note among sell-offs and buy-interests.

The NGX ASI closed at 47,482.73 points, up 0.19 percent from the previous trading day and yielding an 11.16 percent year-to-date gain. In the meantime, the market cap climbed by N47.53 billion.

The stock exchange market value currently stands at N25.59 trillion at the end of the business day on Tuesday, March 1st, 2022.

At the end of today's session, the market breadth was negative, with SEPLAT leading 15 gainers and CUTIX leading 34 losers.

Since the start of the year, the stock market has risen by 4,766.29 points.

NGX Top ASI gainers

SEPLAT up +9.99% to close at N945.80

ROYALEX up +9.49% to close at N1.50

COURTVILLE up +9.09% to close at N0.60

VERITAS up +4.55% to close at N0.23

FCMB up +3.23% to close at N3.20

NGX Top ASI losers

CUTIX down – 10.00% to close at N2.43

LEARNAFRI down – 9.96% to close at N2.35

GSPECPLC down – 9.79% to close at N3.78

CAVERTON down – 9.68% to close at N1.40

RTBRISCOE down – 9.41% to close at N0.77

NGX ASI Top Traded by Volume

FCMB – 57,581,857

TRANSCORP – 45,181,414

ZENITH – 23,084,510

NGX ASI Top Traded by Value

MTNN – N4,557,400,779.60

ZENITH – N624,749,743.70

PRESCO – N427,337,398.25

The market is leaning towards the bulls, with the market differential favoring the losers, with 15 gainers outnumbering 34 losers.