The Nigerian Exchange (NGX) managed to close on a positive note in yesterday’s trading session, marking a notable turnaround from a two-day bearish period that saw equities shedding value.
The rebound resulted in a collective gain of N339 billion for the equities market.
The local bourse had faced a challenging two days, with equities responding negatively to developments related to FTSE Russell ratings.
However, Wednesday witnessed a resurgence in equities, largely driven by impressive performances from Transcorp and NASCON.
ASI rises by 0.93% and market capitalization gains N339 billion
The All-Share Index (ASI) concluded the session with a 0.93% increase, closing at 67,378.88 index points, compared to the previous day‘s figure of 66,760.20 index points.
In a parallel move, the market capitalization of equities soared by N339 billion, reaching N36.877 trillion, marking a 0.93% upswing from the N36.538 trillion recorded in the previous trading session.
Key Market Indices:
- NGX ASI: 67,378.88 points
- % Day Change: +0.93%
- % YTD: +31.47%
- Market Cap: N36.877 trillion
- Volume Traded: 569.63 million
- Value: N8.70 billion
- Deals: 8,404
Market Performance:
The market exhibited positive breadth as DANGOTE SUGAR emerged as the top gainer, surging by 10.00%, while COURTVILLE took the lead among the losers with a 10.00% decline. OANDO secured the top position as the most traded equity in terms of volume.
Top Gainers and Losers:
DANGOTE SUGAR, NASCON, and NAHCO were among the top gainers, each gaining 10.00%, while COURTVILLE, ABC TRANSPORT, and TANTALIZER led the top losers, posting losses of 10.00%, 9.80%, and 9.30%, respectively.
Top Traded Stocks:
Trading activity witnessed a decrease in terms of volume, with 539.63 million units of shares traded, compared to the 645.54 million traded in the previous session. OANDO took the lead in volume, with 143.44 million units traded, followed by ACCESS HOLDINGS (63.56 million) and FIDELITY BANK (39.55 million) as the top three traded stocks.
In terms of value traded, OANDO (N1.39 billion) led the chart, followed by ACCESS HOLDINGS (N1.07 billion) and UBA (N464.55 million).
SWOOTs Watch:
Stocks collectively worth over one trillion Naira, referred to as “SWOOT,” exhibited mixed results. ZENITH BANK (0.74%) and GTCO (6%) recorded positive trading sessions, while BUA CEMENT, BUA FOODS, SEPLAT ENERGY, MTN NIGERIA, DANGOTE CEMENT, and AIRTEL AFRICA all closed unchanged.
FUGAZ Update:
Tier 1 banks experienced mixed trading sessions, with GTCO (6%), UBA (9.78%), ZENITH BANK (0.74%), and ACCESS HOLDINGS (9.77%) closing positively, while FBN HOLDINGS (-0.28%) recorded a negative close.