NGX Continues Bullish Run As ASI Appreciates By 1.57%

In a surge, the Nigerian Stock Exchange (NGX) maintained its bullish momentum, propelling the All-Share Index to a 1.57% gain, closing at 104,421.23 points.

Dangote Sugar took the lead with a 7.17% increase, while the banking sector exhibited notable gains, contributing to a positive market breadth of 61 gainers against 12 losers.

The equities market witnessed an N898 billion uptick, pushing the market cap to N57.16 trillion.

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Trading activities saw a rise, with a 26% increase in volume to 943.51 million units and a 97% surge in value to N23.48 billion. This heightened trading activity reflects a robust investor sentiment.

The day’s highest and lowest points for the NGX All-Share Index were 104,590.52 points and 102,804.77 points, respectively. The year-to-date percentage stood at an impressive +39.65%, showcasing the market’s resilience and attractiveness to investors.

Top gainers included TRANSCORP, STERLINGNG, and NEIMETH, all closing with a remarkable 10% increase. On the flip side, JOHNHOLT and MORISON experienced losses of 10.00% and 9.76%, respectively.

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Among the top traded stocks, FBNH led both in volume (338.84 million units) and value (N8.88 billion). Noteworthy performances were also observed in GTCO, TRANSCORP, UBA, and ACCESSCORP.

In the realm of stocks valued over N1 trillion, positive sentiment prevailed, as GTCO, ZENITHBANK, and MTNN recorded price gains. However, other major players like BUAFOODS, BUACEMENT, AIRTELAFRI, SEPLAT, GEREGU, and DANGCEM showed no price changes during this trading session.

The update on SWOOT and FUGAZ stocks revealed positive trading sentiments for tier-1 banks, with FBNH, UBA, and ACCESSCORP recording substantial price changes. This robust performance underscores the resilience and vitality of the Nigerian stock market, attracting both local and international investor interest.

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