Nigerian Equity Market starts the week with bullish trend, gains N1.35 trillion

Nigerian Equity Market Starts the Week with Bullish Trend, Gains N1.35 Trillion

The Nigerian equity market kicked off the week on a positive note, witnessing a substantial surge in value. Market capitalization experienced a notable increase of N1.35 trillion, reaching a total of N35.18 trillion. This rise in value reflects a positive sentiment among investors, indicating confidence in the market.

The Nigerian Stock Exchange All Share Index (NGX ASI) closed at 64,603.69 points, showcasing a strong performance and signaling optimism for the future. Investor optimism was further supported by the trading volume of 1.84 billion shares, valued at N22.03 billion. A total of 2,487 deals were executed during the trading session, indicating robust market activity.

During today’s session, DAARCOMM emerged as the top gainer with a remarkable 10.00% increase in share price. On the other hand, PHARMDEKO experienced the largest decline, with a decrease of 9.85%. FBNH recorded the highest trading volume, contributing to the overall market activity, which showed a significant increase in the number of transactions compared to the previous session.

The impressive performance of companies like DAARCOMM, MRS, and NEIMETH drove today’s market, resulting in a noteworthy 10% increase in their share prices. However, there were also declines observed, with PHARMDEKO, UNIONDICON, and BERGER experiencing losses.

In terms of trading volume, FBNH, UNIVINSURE, and STERLINGNG were the top stocks, while FBNH, STERLINGNG, and TRANSCORP led in terms of trading value. Notably, DANGOTE CEMENT, UBA, and MTN NIGERIA contributed significantly to the overall market value growth, although GTCO and ZENITH BANK witnessed declines.

Several companies, including AIRTEL AFRICA, BUA CEMENT, and BUA FOODS, remained stable during the trading session, with no significant fluctuations in their share prices. The positive performance of major banks such as FBNH, UBA, and ACCESS HOLDINGS supported the overall positive trend in the Nigerian stock market, despite losses experienced by GTCO and ZENITH BANK.