Business News

Bullish surge boosts Market Capitalization by N157 billion 

The Nigerian Stock Exchange (NSE) maintained its upward trajectory, building on last week’s momentum.

The market capitalization witnessed a significant surge, adding N157 billion to reach a total of N35.842 trillion. This marked a positive shift from the previous closing value of N35.685 trillion. 

The significant rise in market value can be attributed to the prevailing positive outlook that dominated today’s trading session. 

As a result, the All-Share Index (ASI) was up by 0.44%, affirming a bullish trajectory in market performance. The Index managed to tack on 286.26 points, reaching an impressive 65,488.67 points, clearly surpassing the previous day’s closing mark of 65,202.41 points. 

Furthermore, the Year-to-Date (YtD) return for the stock market experienced a noteworthy uptick, now resting at 27.78%. This upswing shows a commendable improvement from its earlier closing position of 27.22%, underscoring the market’s consistent growth and potential.  


Market Indices 

Below are the market indices for today’s trading session:  

NGX ASI: 65,488.67 points  

% Day Change: +0.44%  

% YTD: +27.78% 

Market Cap: N35.842 trillion  

Volume Traded: 293.46 million  

Value: N4.12 billion  

Deals: 5,895 


How Stocks Performed 

Today’s market exhibited a captivating narrative, highlighted by CORNERST remarkable performance as it soared by an impressive 9.84%, closing at an impressive N1.34 per share.  

On the flip side, CHELLARAM fortunes took a different turn, experiencing the steepest decline, with a significant downturn of 10%. 

TRANSCORP and ACCESSCORP stocks took the spotlight in today’s trading, grabbing attention both in terms of trading volume and transaction value respectively. TRANSCORP recorded an impressive trading volume of 41.44 million shares, while ACCESSCORP led the value charts with transactions totaling N616.42 million 

Furthermore, investor activity saw a decline with the total number of deals reaching 5,494, a decrease of 399 deals compared to the previous count of 5,893. 

Top Gainers and Losers

Leading the pack in today’s trading session were CORNERST, CWG, and SCOA, exhibiting impressive growth in their share prices, surging by 9.84%, 9.74%, and 9.38% respectively.  


These gains propelled their closing prices to N1.34, N4.28, and N1.40 per share, concluding the session on a highly positive note. 


On the flip side, the day’s laggards consisted of CHELLARAM, SUNUASSUR, and NB, as they encountered substantial declines in share prices, each dropping by a notable 10%. 



Top Traded Stocks  

The overall value of shares traded in the bourse witnessed a 3.26% increase, rising from N3.99 billion to N4.12 billion. 

Additionally, the volume of shares traded saw a notable uptick of 26.71%, reaching a total of 239.46 million shares. This marked a significant rise compared to the preceding session, which saw a trading volume of 231.60 million share 

TRANSCORP emerged as the most actively traded stock, with a substantial trading volume of 41.44 million shares. Following closely, ACCESSCORP garnered attention with 36.16 million shares traded while FIDELITYBK secured the third position in trading activity, boasting a volume of 32.11 million shares. 

Notably, MTNN experienced a surge in interest today, recording the highest stock turnover at N791.46 million. ACCESSCORP followed suit with N616.42 million worth of transactions and DANGSUGAR stood out, ranking third with N332.80 million in trade value. 


SWOOTs Watch 

The SWOOTs group displayed diverse earnings outcomes, with BUAFOODS taking the lead by exhibiting an impressive 12.1% surge in its share price. 

Contrastingly, ZENITHBANK, UBA, and GTCO experienced marginal declines in their share prices by 0.15%, 0.2%, and 0.05%, respectively. while the stock prices of AIRTELAFRICA, MTNN, DANGCEMENT, and BUACEMENT remained steadfast, showcasing resilience against the market fluctuations that affected other stocks. 


FUGAZ Update 

All the top banks reported negative earnings growth as GTCO and ZENITHBANK saw their shares drop by 0.05% and 0.15% respectively while ACCESSHOLDINGS, UBA and FBNH also experienced a 0.2% decline each. 

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