The Nigerian Exchange (NGX) saw increases for the fourth day in a row, continuing its positive trend throughout the day. The closing value of the All-Share Index (ASI) was 99,189.95 points, up 0.25%.
Improved investor optimism increased market capitalisation by N150.22 billion, from N59.95 trillion to N60.10 trillion. Despite the advances, trading volume and value changed significantly from the previous session, suggesting a cautious mood.
In particular, the value traded climbed by N7.42 billion, from N8.29 billion to N15.71 billion, while the volume traded rose by 41.30%, from 283.72 million shares to 400.91 million shares.
Additionally, the overall number of transactions rose from 7,966 to 9,211, indicating higher market activity.
With a 9.95% increase to close at N22.10, ACCESSCORP was the biggest gainer. ACADEMY, which gained 9.79% to close at N3.14, UPDC, which gained 8.90% to N1.59, CORNERST, which gained 7.60% to N2.69, and VERITASKAP, which increased 5.96% to N1.60, came next.
ROYALEX was the biggest loser among the decliners, dropping 9.72% to N0.65. WAPIC down 5.94% to close at N0.95, LIVESTOCK fell 6.06% to N3.10, and INTBREW fell 6.24% to close at N4.06. CHAMPION closed at N3.50, a 5.41% decline as well.
Market Summary
- Current ASI: 99,189.95
- Previous ASI: 98,944.42
- Day Change: +0.25%
- Year-to-Date Performance: +32.65%
- Volume Traded: 400.91 million shares
- Value Traded: N15.71 billion
- Total Deals: 9,211
Top Gainers
- ACCESSCORP: +9.95% to N22.10
- ACADEMY: +9.79% to N3.14
- UPDC: +8.90% to N1.59
- CORNERST: +7.60% to N2.69
- VERITASKAP: +5.96% to N1.60
Top Losers
- ROYALEX: -9.72% to N0.65
- INTBREW: -6.24% to N4.06
- LIVESTOCK: -6.06% to N3.10
- WAPIC: -5.94% to N0.95
- CHAMPION: -5.41% to N3.50
Top Stocks Traded
With volume rising 41.30% to 400.91 million shares from 283.72 million in the previous session, the market saw a robust recovery in trading activity. Additionally, trade value rose 89.56% from N8.29 billion to N15.71 billion, indicating a resurgence of investor interest.
With its N4.24 billion contribution, ARADEL topped the list of the most traded value. SEPLAT, UBA, GTCO, and ZENITHBANK came in second and third, respectively, with N3.45 billion, N1.68 billion, and N1.00 billion.
Additionally, the volume of trades increased by 117.18 million shares. With 58.42 million shares, UBA led the top traded volume list, followed by JAPAULGOLD with 35.14 million shares. ZENITHBANK contributed 25.03 million shares, ACCESSCORP contributed 30.39 million shares, and CUSTODIAN contributed 33.72 million shares.
Update on SWOOT and FUGAZ
Throughout the trading session, the SWOOT stocks – DANGOTE CEMENT, AIRTEL AFRICA, BUA CEMENT, BUA FOODS, MTNN, SEPLAT, GEREGU, TRANSCORP POWER, TRANSCOHOT, AND GTCO – stayed largely steady.
GTCO reported a 0.95% gain in the SWOOT category, while ZE NITHBANK had a 1.78% increase. ARADEL saw a 9.98% drop.
Every stock in the FUGAZ category saw an increase. ACCESSCORP reported a 9.95% increase, FBN Holdings a 3.23% gain, UBA a 2.11% increase, ZENITHBANK a 1.78% gain, and GTCO a tiny 0.95% increase. This indicates that the financial industry is feeling upbeat.
Prospects
Despite a notable decline in trading volume and value, the market ended the day in a positive position.
The value and traded volume recovered by 89.56% and 41.30%, respectively.
The market will likely keep its upward trend tomorrow if trading activity keeps up this pace.
