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

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.

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.