Emmanuel OchayiThe NGX witnessed a robust bullish trend, propelling the All-Share Index to a 1.57% appreciation, closing at 104,421.23 points.
Dangote Sugar played a pivotal role, securing a 7.17% gain, while banking stocks exhibited noteworthy performances, contributing to the market’s positive breadth with 61 gainers against 12 losers.
The market’s total value soared as equities gained N898 billion, pushing the market capitalization to close at N57.16 trillion, an increase from the previous day’s N56.26 trillion. Trading activity also witnessed a surge, with a 26% rise in trading volume to 943.51 million units and a 97% increase in trading value to N23.48 billion.
Top gainers showcased a strong market momentum, with TRANSCORP, STERLINGNG, and NEIMETH each gaining 10%, closing at N15.40, N6.60, and N2.09, respectively. On the flip side, JOHNHOLT, MORISON, and NEM were among the top losers, experiencing declines of 10.00%, 9.76%, and 8.22%, respectively.
Among the top traded stocks, FBNH dominated both in volume and value, recording 338.84 million units and N8.88 billion, respectively. GTCO, TRANSCORP, UBA, and ACCESSCORP also demonstrated trading activity.
Notably, stocks worth over N1 trillion exhibited positive trading sentiment, with GTCO, ZENITHBANK, and MTNN registering price gains. FBNH, UBA, and ACCESSCORP from the tier-1 banks also marked substantial price changes, contributing to the overall upbeat atmosphere in the market.
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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