The Nigerian Exchange (NGX) continued its bullish trend the day, marking the fourth consecutive day of gains. The All-Share Index (ASI) rose by 0.25% to close at 99,189.95 points.
Market capitalization surged by N150.22 billion to reach N60.10 trillion from N59.95 trillion, reflecting renewed investor optimism. Despite the gains, trading volume and value indicated cautious sentiment, with significant shifts compared to the previous session.
Distinctively, the volume traded increased by 41.30% to 400.91 million shares from 283.72 million shares, and the value traded improved by N7.42 billion, rising to N15.71 billion from N8.29 billion.
The total number of deals also increased to 9,211 from 7,966, suggesting heightened market activity.
ACCESSCORP emerged as the top gainer, posting a 9.95% increase to close at N22.10. It was followed by ACADEMY, with a 9.79% gain to close at N3.14, UPDC, 8.90% to N1.59, CORNERST, 7.60% to N2.69, and VERITASKAP, which rose by 5.96% to N1.60.
For the decliners, ROYALEX led the losers, falling by 9.72% to N0.65. INTBREW declined by 6.24% to close at N4.06, LIVESTOCK lost by 6.06% to N3.10, and WAPIC lost 5.94% to close at N0.95. CHAMPION also recorded a 5.41% drop, closing at N3.50.
Market Summary
- Year-to-Date Performance: 32.65%
- Volume Traded: 400.91 million shares
- Value Traded: N15.71 billion
Top Gainers
- ACCESSCORP: 9.95% to N22.10
- VERITASKAP: 5.96% to N1.60
Top Losers
- LIVESTOCK: -6.06% to N3.10
- WAPIC: -5.94% to N0.95
- CHAMPION: -5.41% to N3.50
Top Traded Stocks
The market recorded a strong rebound in trading activity, with volume surging by 41.30% to 400.91 million shares from 283.72 million in the previous session. Trade value also increased significantly, rising by 89.56% to N15.71 billion from N8.29 billion, signaling renewed interest from investors.
ARADEL topped the list of the highest traded value, contributing N4.24billion, followed by SEPLAT with N3.45 billion, UBA with N1.68 billion, GTCO with N1.27 billion and ZENITHBANK with N1.00 billion.
Trading activity also saw a surge in trade volume, rising by 117.18 million shares. UBA topped the chart of the top traded volume with 58.42 million shares, followed by JAPAULGOLD with 35.14 million shares. Other notable contributors included CUSTODIAN with 33.72 million shares, ACCESSCORP with 30.39 million shares, and ZENITHBANK with 25.03 million shares.
SWOOT and FUGAZ Update
The SWOOT stocks, which include DANGOTE CEMENT, AIRTEL AFRICA, BUA CEMENT, BUA FOODS, MTNN, SEPLAT, GEREGU, TRANSCORP POWER, TRANSCOHOT, AND GTCO, remained relatively stable throughout the trading session.
In the SWOOT category, ZE NITHBANK recorded a 1.78% increase, and GTCO posted a 0.95% gain. On the downside, ARADEL declined by 9.98%.
In the FUGAZ category, all stocks recorded a gain. ACCESSCORP had an increase of 9.95%, FBN Holdings by a 3.23% gain, UBA rose by 2.11%, ZENITHBANK also recorded a 1.78% gain, and GTCO posted a modest 0.95% increase. This reflects positive sentiment within the banking sector.
Outlook
- The market closed in green the day despite a significant loss in volume and value traded.
- The traded volume and value rebounded, increasing by 41.30% and 89.56%, respectively.
- If trading activity continues at this pace, the market is likely to maintain its positive momentum tomorrow.
