The first trading day of the week saw a bullish start for the stock market, as equities added 851 billionin value.
The equity market closed higher by 2.48%, reaching N35.18 trillion from N33.83 trillion in the previous session, reflecting the optimistic mindset of investors
The Nigerian Stock Exchange All Share Index (NGX ASI) ended the trading session on a high note, recording 1,563.3 points increase to 64,603.69 from the previous close of 63,040.41 points on Friday. This indicates a strong performance by the market and a positive outlook for investors.
The trading value of shares rose to N22.03 billion, a remarkable increase of N21.07 billion from N958.85 million in the previous session.
Below are the market indices for today’s trading session:
NGX ASI: 64,603.69 points
% Day Change: 2.48%
% YTD: +26.05%
Market Cap: N35.18 trillion
Volume Traded: 1.84 billion
Value: N22.03 billion
How Stocks Performed
The stock market witnessed a significant movement today, as DAARCOMM emerged as the top gainer with a 10.00% rise in its value, while the largest loser was PHARMDEKO, whose share price fell by 9.85%, while FBNH had the highest volume of transactions at the close of the market.
The market observed an increase in activity, as 14,584 transactions were completed today, compared to 2,487 in the last session. This indicates strong demand and confidence among the buyers and sellers, as well as a positive outlook for the future.
Top Gainers and Top Losers
Today’s stock market was dominated by DAARCOMM, MRS, and NEIMETH, all of whose shares had price increases of an amazing 10%. These companies outperformed their peers and boosted the market sentiment.
The market’s declines were partly due to the losses of some companies. PHARMADEKO, UNIONDICON and BERGER lost 9.85%, 9.50% and 9.09% respectively.
Top Traded Stocks
The number of shares traded today rose sharply, reaching 1.84 billion, while the previous session had only 173.7 million. This means that 1.67 billion more shares were exchanged today.
In terms of trading volume, the top three stocks on the market today were FBNH, UNIVINSURE, and STERLINGNG, with 198.22 million units, 184.65 million units, and 161.68 million units, respectively.
Today’s stock market trading was topped by FBNH, which had a value of N4.42 billion, followed by STERLINGNG, which had a value of N724.33 million, and TRANSCORP, which had a value of N706.92 million.
DANGOTE CEMENT, UBA, and MTN NIGERIA were the main drivers of the SWOOT market value growth. These stocks posted impressive gains of 10%, 4.93%, and 1.82% respectively.
The performance of GTCO and ZENITH BANK was negative, as they dropped by 1.91% and 1.44% respectively.
AIRTEL AFRICA, BUA CEMENT, and BUA FOODS maintained their prices today, showing no fluctuations from yesterday’s closing values. The market was stable for these companies, indicating a steady demand and supply
The Nigerian stock market witnessed a positive performance today, driven by some major banks. FBNH, UBA, and ACCESS HOLDINGS recorded capital gains of 9.85%, 4.93%, and 0.8%, respectively. However, GTCO and ZENITH BANK suffered losses of 1.91% and 1.44%, respectively.
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