Emmanuel OchayiThe NGX All-Share Index continued its upward trajectory, closing at 70,773.31 points today, inching closer to the elusive 71,000 mark. The market witnessed a gain of N87 billion, propelling the market capitalization to N38.885 trillion.
Market analysts attribute this positive trend to price surges in heavyweight stocks, with BUACEMENT leading the pack with a 1.90% increase, followed by UBA (+1.47%), FBNH (+0.52%), and WAPCO (+1.38%).
Join our WhatsApp ChannelIn a twist, the number of deals saw a decline to 6,401 from yesterday’s 7,100, indicating a strategic approach by investors. However, the trading volume experienced a 24.3% surge, reaching 558.345 million units, while the trading value also appreciated to N9.79 billion, up from yesterday’s N7.71 billion.
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In today’s trading session, the NGX All-Share Index closed at 70,773.31 points with a modest day change of +0.23%. The index ranged from its lowest point at 70,613.60 to its highest at 70,755.57. Year-to-date, there has been an increase of +38.09%. The market capitalization reached N38.89 trillion, and trading activity saw 558.345 million units exchanged, valued at N9.79 billion, across 6,401 deals.
Top gainers stole the spotlight with performances as JAPAULGOLD: +9.87% to close at N1.67; MECURE: +9.80% to close at N3.25; PRESTIGE: +9.76% to close at N0.45; CORNERST: +9.72% to close at N1.58; OMATEK: +9.62% to close at N0.57.
On the flip side, top losers experienced a downturn as CAVERTON: -9.87% to close at N1.37; MEYER: -9.85% to close at N2.47; SCOA: -9.60% to close at N1.13; THOMASWY: -8.60% to close at N3.72;UPDC: -8.26% to close at N1.11.
The top traded stocks in terms of volume and value showcased FBNH’s dominance for the second consecutive day, with 209.9 million units traded at N4.04 billion. In terms of value, FBNH led, followed by AIRTELAFRI, UBA, GTCO, and FIDELITYBK.
In the realm of stocks worth over one trillion, BUACEMENT and GTCO witnessed price increases, while ZENITHBANK experienced a slight decline of 0.30%. Notably, MTNN, SEPLAT, DANGCEM, BUAFOOD, and AIRTELAFRI maintained stability with zero price changes.
Among tier-1 banks, FBNH, UBA, GTCO, and ACCESSCORP enjoyed favorable trading activity, while ZENITHBANK saw a marginal decrease of 0.30% in its stock price. As the market continues its dynamic movements, investors eagerly anticipate further developments in the coming sessions.
Emmanuel Ochayi is a journalist. He is a graduate of the University of Lagos, School of first choice and the nations pride. Emmanuel is keen on exploring writing angles in different areas, including Business, climate change, politics, Education, and others.
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