The Nigerian stock market maintained its positive momentum as the total value of listed shares rose by N449 billion naira on Tuesday, 18th July 2023.
The market ended Tuesday’s session with a modest gain of 1.31%, lifting its value to N34,722 trillion.
This represented a slight recovery from the previous day’s close of N 34,273 trillion.
The market was buoyed by positive sentiments from investors and traders.
The Nigerian Stock Exchange (NSE) recorded a bullish performance on Tuesday, as the All-Share Index (ASI) surged by 1.31% to close at 63,766.72 points.
The ASI gained 823.37 points from its previous close of 62,943.35 points on Friday, reflecting the increased investor confidence in the market.
Market Indices
Below are the market indices for today’s trading session:
NGX ASI: 63,766.72 points
% Day Change: 1.31%
% YTD: +24.42%
Market Cap: N34,722 trillion
Volume Traded: 868.80 million
Value: N42.81 billion
Deals: 8,970
How Stocks Performed
The trading day ended with mixed results for the stock market, as NPFMCRFBK emerged as the top gainer, recording a 10% rise in its share price.
JAPAULGOLD, on the other hand, was the biggest loser, dropping by 10%. FCMB dominated the market activity, with the highest volume of shares exchanged at the end of the day.
The market witnessed a marginal decrease in trading activity today, with the number of executed transactions falling to 8,970 from 8,979 transactions in the previous session.
Top Gainers and Top Losers
The market witnessed a bullish trend as three stocks soared by 10% each. NPFMCRFBK, NEM and HONYFLOUR were the top performers of the day, boosting the confidence of investors and traders.
The market performance was adversely impacted by the decline in the share value of some key players. JAPAULGOLD led the losers’ chart with a 10% drop, followed by FTNCOCOA and COURTVILLE which shed 9.84% and 8.64% respectively.
Top Traded Stocks
The market witnessed a significant surge in trading activity on Tuesday, with the total value of shares traded reaching N42.81 billion.
This was a remarkable increase from the N13.83 billion recorded on Monday, indicating a higher demand for shares among investors.
The market’s transaction value rose by N28.98 billion in one day.
The trading volume of the market increased significantly by 22.36%, reaching 868.80 million shares from the previous day’s 710.02 million shares. This represented an additional 158.78 million shares traded in the market.
FCMB, JAPAULGOLD and DANGCEM led the market activity today, as they had the highest trading volumes of all equities. The volume of shares traded for these stocks was 153.88 million, 110.53 million, and 104.88 million units, respectively.
The market today witnessed a high activity from DANGCEM, which traded at a whopping N35.81 billion. FCMB followed with a respectable N956.07 million, while ACCESSCORP secured the third position with N849.24 million.
SWOOTs Watch
The stock market witnessed a positive performance, driven by the impressive results of DANGOTE CEMENT, which gained 6.67%. GTCO also contributed to the market growth with a rise of 1.47%.
On the other hand, ZENITH BANK and UBA recorded losses of 3.39% and 1.43% respectively, dragging down market sentiment.
The market performance of AIRTEL AFRICA, MTN NIGERIA, BUA CEMENT and BUA FOODS remained stable today, as they closed at the same prices as yesterday.
This indicates that there was no significant change in their market positions or investor sentiments.
FUGAZ Update
The stock market experienced an upturn due to the positive performance of FBNH, ACCESS HOLDINGS, and GTCO, which increased by 3.75%, 1.87% and 1.47% respectively. However, ZENITH BANK and UBA suffered losses of 3.39% and 1.43% respectively.
