The Nigerian Exchange (NGX) extended its bullish run today, marking a fifth straight day of gains.
The All-Share Index (ASI) climbed by 0.26%, gaining 258.96 points to close at 99,448.91 points.
Market capitalization also saw an uptick, rising by N156.91 billion to reach N60.26 trillion, up from N60.10 trillion.
This represents the second consecutive day the NGX has surpassed the N60 trillion mark, highlighting renewed investor confidence.
While trading volume increased by 14.96% to 460.85 million shares from the previous session’s 400.91 million, the value of trades declined, indicating a more cautious sentiment among investors.
The total value of trades dropped by N6.19 billion, closing at N9.52 billion compared to N15.71 billion, across 8,772 deals.
Market Summary
- Current ASI: 99,448.91
- Previous ASI: 99,189.95
- Day Change: 0.26%
- Year-to-Date Performance: 33%
- Volume Traded: 460.85 million shares
- Value Traded: N 9.52 billion
- Total Deals: 8,772
Top Gainers
- CAP: 10% to N38.5
- LIVESTOCK: 10% to N3.41
- EUNISELL: 9.72% to N3.50
- MAYBAKER: 9.56% to N7.45
- ROYALEX: 9.23% to N0.71
Top Losers
- DAARCOMM: -9.86% to N0.64
- MCNICHOLS: -5.10% to N1.49
- FTNCOCOA: -4.76% to N1.80
- FIDELITYBK: -2.72% to N14.30
- CHAMS: -2.44% to N2.00
Top Traded Stocks
Following recent heightened activity, trading volume increased by 14.96%, reaching 460.85 million shares from the previous session’s 400.91 million shares.
- However, trade value dropped by 39.38%, down to N9.52 billion from N15.71 billion, indicating a shift in investor focus despite the uptick in volume.
- UBA led the list for highest traded value, contributing N2.60 billion, followed by ARADEL with N2.06 billion, ZENITHBANK at N753.27 million, ACCESSCORP at N628.04 million, and CAP with N454.36 million.
Trading activity saw a volume increase of 59.94 million shares, with CHAMS topping the volume chart at 97.66 million shares. UBA followed closely with 88.47 million shares, while STERLINGNG contributed 32.30 million shares, ACCESSCORP added 28.19 million shares, and ZENITHBANK recorded 18.82 million shares.
SWOOT and FUGAZ Update
The SWOOT stocks, which include DANGOTE CEMENT, AIRTEL AFRICA, BUA CEMENT, BUA FOODS, SEPLAT, GEREGU, OANDO, TRANSCORP POWER, TRANSCOHOT, remained relatively stable throughout the trading session.
In the SWOOT category, ARADEL led with a 6.61% increase, followed by UBA with a 3.79% gain. However, ZENITHBANK declined by 0.25%, GTCO fell by 1.89%, and MTNN saw a 2.39% drop.
Mixed results were observed in the FUGAZ category as well. UBA was the only stock to post a gain, rising by 3.79%, while ACCESSCORP decreased by 0.23%, FBN Holdings by 0.17%, ZENITHBANK by 0.25%, and GTCO by 1.89%.
Outlook
The market closed positively today, even with a notable drop in trade value while trading volume rose by 14.96%, the total value traded declined by 39.38%.
United Bank of Africa entered the SWOOT category, surpassing the one trillion naira mark and becoming the 14th stock to join this group.
If the current trading activity continues, the market is likely to maintain its upward trend.