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NGX continues bullish trend as ASI records 3.57% gain



The Nigerian Exchange Limited has achieved its highest single-day gain since June 13, 2023, as the All-Share Index appreciated by 3.57 per cent, gaining 2,867.31 points to 83,191.84 points.

The milestone comes one day after Monday’s All-Share Index crossed the 80,000 mark.

Equities gained about N1.567 trillion as the market capitalization appreciated by 3.57 per cent to N45.524 trillion from yesterday’s N43.957 trillion.

Some of the biggest gainers in the market included FBN Holdings (First Bank), which gained about 10 per cent to rebound into the SWOOT category. Consumer goods companies Unilever and Cadbury also gained about 10 per cent each.

In terms of trading volume, there was an 18.5 per cent appreciation to 1.41 billion units compared to yesterday’s 1.19 billion units. Also, there was a whopping 61.7 per cent appreciation to N24.68 billion in trading value from yesterday’s N15.26 billion.

A further analysis showed that top Gainers are FBNH, +10.00 per cent to close at N28.60 per cent, CADBURY, +10.00 per cent to close at N18.15, UNILEVER, +10.00 per cent to close at N18.15, FTNCOCOA: +10.00 per cent to close at N2.20, MBENEFIT, +10.00 per cent to close at N0.77 and GUINEAINS: +10.00 per cent to close at N0.44.

Conversely, the top Losers are TOTAL, -10.00 per cent to close at N346.50; DAARCOMM, -9.40 per cent to close at N1.06; RTBRISCOE, -8.45 per cent to close at N0.65; SUNUASSUR, -7.69 per cent to close at N1.20, PRESTIGE: -7.41 per cent to close at N0.50, THOMASWY: -6.37 per cent to close at N2.50.

Regarding top traded stocks in terms of volume, FIDELITYBK (+4.49 per cent) led with about 141.75 million units, followed by FCMB (+9.86 per cent) with 128.97 million units, UBA (+9.03 per cent) with 117.71 million units, TRANSCORP (+2.81 per cent) with 108.34 million units, and ACCESSCORP (+8.39 per cent) with 85.08 million units.

Concerning value, UBA (+9.03%) topped with N3.78 billion, followed by ACCESSCORP (+8.39%) with N2.53 billion, GTCO (+9.55%) with N2.14 billion, ZENITHBANK (+9.99%) with N2.12 billion, and FIDELITYBK (+4.49%) with N1.97 billion.

There was an extremely positive trading sentiment for stocks worth over N1 trillion as almost all of the members of the SWOOT category recorded impressive gains.

GTCO (+9.55 per cent), ZENITH BANK (+9.99 per cent), UBA (+9.03 per cent), BUAFOODS (+5.59 per cent), MTN (+3.51 per cent), and DANGCEM (+3.72 per cent) all recorded gains, while BUACEMENT, AIRTELAFRI, and SEPLAT recorded no price changes.

Similarly, FBNH gained 10 per cent, surpassing the N1 trillion market capitalization level.

Tier-1 banks drove the market’s positive performance, as they all recorded impressive gains: FBNH (+10.00 per cent), UBA (+9.03 per cent), GTCO (+9.55 per cent), ACCESSCORP (+8.39 per cent), and ZENITHBANK (+9.99 per cent).

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