At the close of the first trading day of the month, the NGX market capitalization took a hit, dropping by N672 billion to settle at N54.04 trillion.
This downturn in the Nigerian Stock Exchange (NSE) was mainly driven by significant losses in the share prices of BUACEMENT and MTN Nigeria.
Reflecting the bearish sentiment among investors, the NSE experienced a notable downturn, with the NGX All-Share Index (ASI) plummeting by 1228.32 points to settle at 98,751.98 points.
The trading session concluded on a negative note today, with TIP and FTNCOCOA witnessing a 10% surge each, emerging as the top gainers, while CONOIL and BUACEMENT both suffered a 10% decline, making them the worst performers. TRANSCORP had the highest volume of traded stocks by the market close, while ZENITH BANK led in terms of the highest value of stocks traded.
A total of 9,168 transactions were completed in the market for the day, down from the 9,650 reported in the previous session.
Market Indices
Here are the market Indices for today’s trading session
NGX All-Share Index: 98,751.98 points
Previous ASI: 99,980.3 points
% Day Change: -1.23%
% YTD: +32.07%
Market Cap: N54.04 trillion
Volume Traded: 367.62 million units
Value: N6.78 billion
Deals: 9,168
Top Gainers
- TIP: +10% to close at N1.98
- FTNCOCOA: +10% to close at N1.65
- JULI: +9.97% to close at N3.475
- CHAMPION: +9.94% to close at N3.76
- PZ: +9.93% to close at N33.75
Top Losers
- CONOIL: -10% to close at N90.90
- BUACEMENT: -10% to close at N135.00
- MTNN: -9.96% to close at N200.70
- THOMASWY: -9.78% to close at N2.03
- SOVRENINS: -6.52% to close at N0.43
Top Traded Stocks
Trading activity decreased today, with 367.62 million shares exchanged, marking a decline from yesterday’s 542.95 million shares. This reflects a decrease of 175.33 million in the volume of shares traded.
Today’s market saw TRANSCORP leading in trading volume with 56.99 million units, followed by ACCESSCORP with 31.77 million units, UBA with 28.5 million units, FIDELITYBK with 28.07 million units, and FCMB with 27.92 million units.
The market trading value experienced a significant decline of 22.01%, with shares totaling N6.783 billion exchanged, contrasting sharply with N8.697 billion traded in the previous session.
In terms of value traded, Zenith Bank, GTCO, TRANSCORP, UBA, and ACCESSCORP emerged as the top companies on the stock market today. They recorded values of N913.43 million, N847.09 million, N792.05 million, N674.07 million, and N667.78 million respectively.
SWOOT and FUGAZ Update
In the SWOOT category, banking sectors saw a rise in their share prices, while BUACEMENT and MTNN faced declines. On the other hand, stability was maintained among AIRTELAFRI, BUAFOODS, DANGCEM, GEREGU, SEPLAT, and TRANSCOHOT.
The surge in the market was primarily driven by the financial sector, with all major players witnessing increases in their stock values. Access Holdings, GTCO, UBA, Zenith Bank, and FBN Holdings recorded growth in their share prices, with gains of 9.92%, 5.18%, 2%, 1.43%, and 0.72% respectively.
