On the last trading day of the week, MTN Nigeria reported a 1.99% gain or an equity gain of N81.9 billion.
 The 0.04% marginal gain reported by the NGX during the day was mostly driven by the gains made by the stock. From 100,503.21 points yesterday, the NGX reported an All-Share Index of 100,539.4 points. Additionally, the total market capitalization increased marginally by N30 billion to N56.93 trillion from N56.90 trillion the day before.
Despite the market’s ongoing bull run, there were more losers than winners – 28 to 17. This indicated a negative market breadth. In addition to being the slowest day of the week, trade volume fell by 3.6% to 372.60 million shares today.
The NGX gained 0.87% this week, marking one of the greatest trading weeks of the year.
Market Standouts
Top gainers: Sovereign Trust Insurance, which rose 4.26% to settle at N0.49, was the stock with the biggest gain on the market today. After that, Custodian Investment had a gain of 4.17%, while NAHCO saw a gain of 3.41%. FCMB Group saw a gain of 3.25%, while The Initiates saw a gain of 3.37%.
Top losers: Cutix Plc was the largest decliner throughout the trading day as investors profited from the 42% gain that was recorded between Monday and Thursday. Cutix saw an 8.55% decrease.
- Tantalizers Plc fell by 8.16% to settle at N0.45, trailed by Associated Bus Company (ABCTRANS), which fell by 8.33% to close at N0.77.
- WAPIC Insurance fell by 5.00% to close at N0.76 and Red Star Express Plc fell by 5.28% to close at N3.95.
Most traded stocks: One of the leading gainers, FCMB Group, reported 114.121 million shares in turnover.
- The turnover volume for Jaiz Bank Plc was 103.346 million shares, indicating a 3.56% drop.
- United Capital’s stock saw a turnover volume of 56.76 million shares, indicating active trading.
- GTCO Holdings reported a decrease of 0.77% and a 37.548 million share turnover volume. 33.35 million shares were turned over by Universal Insurance.
- United Capital was the most traded stock in terms of value, with N2.29 billion, and GTCO came in second with N1.70 billion.
- Zenith Bank Plc reported a N1.10 billion turnover amount, representing a 0.54% decrease. UBA had a decrease of 1.93% and reported a turnover value of N450.28 million, while FCMB reported a turnover value of N896.12 million.
Updates on FUGAZ and SWOOTs
Regarding equities valued at more than one trillion dollars, trading sentiment was uneven. MTN Nigeria reported a 1.99% gain, while GTCO and Zenith Bank reported decreases of 0.77% and 0.54%, respectively.
Bearish sentiment was evident in Tier-1 banking stocks, with FBNH, UBA, GTCO, and Zenith Bank posting falls of 3.29%, 1.93%, 0.77%, and 0.54%, respectively. Access Holdings did not report any shift in price.
