Green day for Nigerian investors as equities records N157 billion gains in bullish run
The NGX All-Share Index enjoyed a slight boost, climbing by 278.42 points to reach 104,562.06 points, marking a growth of 0.27% from its previous close at 104,283.64 points.
This increase is indicative of a strengthening investor confidence, as seen in the N157.43 billion jump in market capitalization to a new total of N59.12 trillion, up from N58.96 trillion.
The overall market mood was buoyant, with MORISON leading the charge among 329 advancing stocks with a notable 10% rise in its share price.
Conversely, FTNCOCOA saw its stock price fall by 9.60%, positioning it as one of the day’s most significant decliners among 16 stocks.
Focusing on trading volumes, ZENITHBANK emerged as a standout, while GTCO garnered attention for the monetary value of its traded shares. Moreover, the market’s dynamism was evident, with a marginal increase in the number of transactions to 10,257, slightly up from the 10,260 trades recorded in the previous session.
The latest trading session saw a marked increase in activity, with the volume of shares traded rising by 123.37 million shares, a 24.69% jump, resulting in a total of 623.08 million units traded. This is a notable increase from the 499.71 million shares traded in the previous session.
Leading the trading volume was ZENITHBANK, with an impressive 88.36 million units, closely followed by GTCO with 78.68 million units. Other active stocks included ACCESSCORP, UBA, and FIDELITYBK, with 56.74 million, 54.94 million, and 50.78 million units traded, respectively.
Value-wise, the market saw a substantial rise of 36.61%, an uptick of N4.54 billion, ending the session at N16.95 billion, up from N12.41 billion previously. GTCO contributed the most to this increase, with shares valued at N4.11 billion, with ZENITHBANK at N3.89 billion, UBA at N1.54 billion, ACCESSCORP at N1.39 billion, and NESTLE at N904.67 million.
The latest SWOOT category financial summary indicated an uptick in the stock values of MTNN and various banking entities. Notably, there were no decreases in market capitalization for any SWOOT stocks.
Steadiness was the theme for the rest of the SWOOT collective, which includes AIRTELAFRI, BUA Cement, BUAFOODS, DANGCEM, GEREGU, SEPLAT, TRANSCOHOT, and TRANSPOWER, as they maintained their share prices without wavering during market volatility.
The day’s trading summary highlighted a positive trend among the premier banks. Access Holdings saw a 2.08% rise, FBN Holdings enjoyed a 1.28% lift, Zenith Bank increased by 1.14%, GTCO grew by 0.96%, and UBA appreciated by 0.72% in their stock value.
