Emmanuel OchayiThe Nigerian Stock Exchange (NGX) kicked off November with triumph, as the All-Share Index (ASI) shattered the 70,000 mark, culminating in a close at 70,581.76 points.
The equities market gained 1.94%, bringing with N739 billion appreciation in market capitalization, which soared to N38.778 trillion. Such gains, totaling N1.357 trillion over the past three days, underscore a trend in the financial landscape.
Join our WhatsApp ChannelThe winning streak this week can be attributed to the performance of some heavyweights, most notably Airtel Africa, First Bank, UBA, and Northern Nigeria Flour Mills. Airtel Africa’s 10% surge, closing at N1,694.10, has grabbed the headlines and pushed the market to these incredible heights.
Today’s trading activity saw 7,444 deals, a slight drop from yesterday’s 8,027 deals. However, there was 24.5% surge in trading volume, with 601.732 million units changing hands, boasting a trading value of N11.02 billion, 82.45% increase from yesterday’s N6.04 billion.
NGX All-Share Index: 70,581.76 points, % Day Change: +1.94%, Day’s Lowest: 69,222.13 points, Day’s Highest: 70,581.76 points, % Year-to-Date Change: +37.72%, Market Capitalization: N38.78 trillion. Volume Traded: 601.73 million. Value: N11.02 billion, Deals: 7,444.
In the spotlight among the top gainers were: AIRTERLAFRI: +10.00% to close at N1694.10, UPL: +9.91% to close at N2.33, CHAMS: +9.91% to close at N2.44, NEM: +9.90% to close at N5.55, FBNH: +9.78% to close at N19.65.
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Meanwhile, the top losers included: CAVERTON: -7.74% to close at N1.43, CHAMPION: -6.85% to close at N3.65, CILEASING: -6.41% to close at N3.59, UPDCREIT: -2.70% to close at N3.70, UNILEVER: -2.44% to close at N14.35.
The most actively traded stocks in terms of volume were led by UBA (+0.48%), recording 163.56 million units, followed by FBNH (+9.78%) with 94.65 million shares. GTCO (+1.72%) came in third place with 45.75 million shares, trailed by ACCESSCORP (+4.37%) with 36.69 million shares and UNIVINSURE (+8.33%) with 34.72 million shares.
In terms of value, UBA led the chart with N3.47 billion, followed by FBNH with N1.84 billion, GTCO with N1.60 billion, AIRTELAFRI with N694.06 million, and ACCESSCORP with N641.99 million.
The performance of AIRTERLAFRI, FBNH, and other leading stocks continues to drive positive sentiment in the market. For stocks worth over one trillion, the picture remains rosy, with AIRTEL leading the way in price appreciation by 10.00%.
Additionally, GTCO (+1.72%) and ZENITHBANK (+3.77%) registered notable price gains. In contrast, MTNN, SEPLAT, DANGECM, BUAFOODS, and BUACEMENT saw no price changes from the previous day.
Tier-1 banks celebrated positive trading, with share price appreciations across the board: FBNH (+9.78%), UBA (+0.48%), GTCO (+1.72%), ACCESSCORP (+4.37%), and ZENITHBANK (+3.77%).
The NGX’s performance sets an optimistic tone for the financial market, reflecting a broader outlook of confidence and enthusiasm among investors and stakeholders. With the ASI crossing the 70,000 mark, market participants eagerly anticipate what the future holds in this vibrant economic landscape.
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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