Nigerian Equities Gain N27.2 Billion As ASI Appreciated By 0.07%

November 9, 2023
NGX stock market. Photo credit: TheCable
A normal trading day on the Nigerian stock exchange

The NGX, equities on Thursday put on their dancing shoes as the All-Share Index hit a new high, up by 0.07% to 70,819.49 points. The market capitalized on the upbeat atmosphere, gaining N27.2 billion, pushing the market capitalization to N38.912 billion.

With 25 stocks reveling in price appreciations and 24 trying to catch up, the market proved to be crowded. The number of deals took a slight dip to 6,169, but the trading volume cranked up, reaching 569.195 million units. The value increased to N16.791 billion, a jump from yesterday’s N9.79 billion.

Join our WhatsApp Channel

In the top gainers’ corner, the market saw an impressive performance with UPDC gaining +9.91%, closing at N1.22; MECURE surged +9.85%, closing at N3.57; SCOA jumped +9.73%, closing at N1.24; JAPAULGOLD rose +9.58%, closing at N1.83; UACN climbed +8.47%, closing at N16.00.

READ ALSO: JAPAULGOLD, OMATEK, Others Top Gainers As Market Capitalization Surges To N38.885 Trillion

In the top losers’ lineup, the market witnessed declines as VFDGROUP dropped by -10.00%, closing at N184.50; MULTIVERSE slid by -9.37%, closing at N2.90; TIP decreased by -9.35%, closing at N0.97; REGALINS fell by -8.57%, closing at N0.32; DAARCOMM dipped by -8.33%, closing at N0.22.

JAPAULGOLD led the top traded stocks with a 9.58% gain, trading at 113.964 million units, followed by STANBIC at -0.07% with 96.92 million units, UBA at +0.24% with 75.22 million units, FBNH at +3.36% with 42.64 million units, and FIDELITYBK traded 34.70 million units.

SWOOT and FUGAZ Update Amid the market carnival, only GTCO (+0.56%) and ZENITHBANK (-0.45%) showed off in the SWOOT and FUGAZ categories. Tier-1 banks proved they were party animals with FBNH (+3.36%), GTCO (+0.56%), and UBA (+0.24%) all gaining some respect, while ACCESSCORP (-0.29%) and ZENITHBANK (-0.45%) took a brief rest.

Market participants are clearly in the mood for celebration, with equities turning the trading floor into a lively party. Let’s see if this rhythm continues or if the market takes a breather before the next big dance move.

emmmmmm
+ posts

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.

Emmanuel Ochayi

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.

GuarantCo
Previous Story

Guarantco Provides $25 million Counter-Guarantee To InfraCredit For Lagos Free Zone Company

Eminent Patriots Call For New Constitution To Address Nigeria's Governance Problems
Next Story

Eminent Patriots Call For New Constitution To Address Nigeria’s Governance Problems

Featured Stories

Anioma State: Reason Above Sentiments

Hungry Abuja Pikin: A Reflection

By Emmanuel Onwubiko When in 1992, the then self -styled military president of Nigeria, four stars General, the gap-toothed Ibrahim Badamasi Babangida,

Latest from Business

Nigerian Mobile Users May Pay More Under New NCC Roadmap

By Prosper Okoye Nigerian mobile phone users may face higher call and data costs following a new five-year plan released by the country’s telecoms regulator. Prime Business Africa gathered that the Nigerian Communications Commission (NCC) has published a Draft Spectrum Roadmap outlining

Naira Appreciates Against Dollar Across FX Markets

On Tuesday, January 6, the foreign exchange rate for the United States dollar (USD) decreased by N17 or 1.18 percent to N1,416 on the Nigerian foreign exchange market (NFEM). According to data obtained from the Central Bank of Nigeria (CBN), the dollar
Lasaco Assurance Suffers N404.22bn Loss

Lasaco Assurance Suffers N404.22bn Loss

Lasaco Assurance, in its unaudited financial statements for the period ended September 30, 2025, said revenue increased by 40 percent to N23.83 billion in the first nine months of last year, surpassing the N17.02 billion recorded in the same period in 2024.
Naira Falls Against Dollar Across FX Markets

Official, Parallel Markets Record Increase In Dollar Rates

The Nigerian foreign exchange market (NFEM), also known as the official window, recorded a rate of N1,433 per dollar at the close of trading on Monday, January 5. This was N2 above the N1,431/$1 reported on Friday, January 2, 2026, indicating the
GuarantCo
Previous Story

Guarantco Provides $25 million Counter-Guarantee To InfraCredit For Lagos Free Zone Company

Eminent Patriots Call For New Constitution To Address Nigeria's Governance Problems
Next Story

Eminent Patriots Call For New Constitution To Address Nigeria’s Governance Problems

Don't Miss

Nigerian Gov’t Spends N96 Out Of Every N100 To Pay Debt - World Bank Says, Reveals Impact

Global Community Steps Up With $93 Billion Support Package To Boost Poorest Countries

The World Bank has announced a 93 billion dollars replenishment

Revealed: Messi To Miss Argentina’s World Cup Qualifiers Against Uruguay, Brazil

World Cup winning captain and Argentina’s all-time record goalscorer, Lionel