There are breaking records in the Nigerian stock market. The NGX All-Share Index (ASI) catapulted to an unprecedented 100,335.3 points, marking a remarkable surge of 743.66 points. This surge, reminiscent of levels seen on February 27, 2024, paints a bullish picture for investors.
Thursday witnessed a substantial gain of N420 billion, boosting investor confidence and propelling the market capitalization to N56.73 trillion. MTN Nigeria and TRANSPOWER spearheaded this growth with significant hikes in their share prices.
Amid this fervour, MTNN and DANGSUGAR led the charge among the 26 stocks that saw appreciation, each boasting a 10% growth. Conversely, FTNCOCOA and GUINNESS faltered, declining by 10% each, earning them the undesirable title of worst performers among the 33 depreciated stocks.
TRANSCORP was the most traded stock of the day, garnering substantial attention both in terms of volume and value. Market activity thrived with 9,708 deals, outstripping the previous session’s count of 9,338 deals.
Market Overview
Here’s a snapshot of today’s market indices:
- NGX All-Share Index: 100,335.3 points
- Previous ASI: 99,591.64 points
- Day Change: +0.75%
- Year-to-Date (YTD): +34.19% (Previously +33.19%)
- Market Cap: N56.73 trillion
- Volume Traded: 554.72 million units
- Value: N17.73 billion
- Deals: 9,708
Winners and Losers
Top Gainers:
- MTNN: +10% at N201.30
- DANGSUGAR: +10% at N50.60
- TRANSPOWER: +9.99% at N351.30
- JULI: +9.96% at N4.97
- NASCON: +9.92% at N47.65
Top Losers:
- FTNCOCOA: -10% at N1.53
- GUINNESS: -10% at N45.90
- TRANSCORP: -9.95% at N17.10
- IKEJAHOTEL: -9.93% at N6.08
- REDSTAREX: -9.87% at N3.38
Most Traded Stocks
Trading volume surged by 138 million shares to 554.72 million, a significant jump from the previous session’s 416.48 million. TRANSCORP dominated trading with 301.36 million units, followed by STERLINGNG, FBNH, UBA, and ZENITHBANK.
The value of shares traded slightly dipped by 9.11% to N17.73 billion from N19.51 billion in the last session. Noteworthy drivers included TRANSCORP, DANGCEM, TRANSPOWER, FBNH, and ZENITHBANK.
SWOOT and FUGAZ Update
In the SWOOT category, MTN Nigeria and TRANSPOWER witnessed gains of 10% and 9.9%, respectively. While banking stocks in this category endured losses, companies like AIRTELAFRI, BUACEMENT, BUAFOODS, DANGCEM, GEREGU, SEPLAT, and TRANSCOHOT maintained stability.
Major banks faced setbacks, with FBN Holdings, Access Holdings, UBA, GTCO, and Zenith Bank witnessing declines in their stock values.
