The NGX All-Share Index continued its upward trajectory, closing at 79,664.66 points, marking a 2.11% increase. This remarkable surge, fueled primarily by the banking sector, saw every listed banking stock gaining ground. Notably, Transcorp and Transcorp Hotels also soared, landing among the top gainers with impressive increases of 9.99% and 9.92%, respectively.
Equities experienced a significant uptick, with the market cap closing at N43.594 trillion, up from yesterday’s N42.694 trillion, marking a substantial gain of N900 billion. While traded volume dipped slightly by 9.3%, traded value surged by 28.4% to N14.33 billion.
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Within Friday’s trading session, notable shifts were observed in various market indices and top-performing stocks. Notably, NAHCO and UPDC topped the gainers’ chart with a 10.00% increase in their closing prices.
In terms of volume, FIDELITYBK led with 92.67 million units, closely followed by TRANSCORP with 75.43 million units. NESTLE emerged as the leader in terms of traded value, closely followed by UBA and FIDELITYBK.
Within the stocks valued over N1 trillion, MTNN, DANGCEM, ZENITHBANK, and GTCO saw price gains, while others like BUAFOODS, BUACEMENT, AIRTELAFRI, and SEPLAT remained stable without price changes.
Tier-1 banks showcased a bullish trend with FBNH, UBA, GTCO, ACCESSCORP, and ZENITHBANK recording price gains, contributing significantly to the overall positive sentiment in today’s trading session.
Emmanuel Ochayi is a journalist. He is a graduate of the University of Lagos, School of first choice and the nations pride. Emmanuel is keen on exploring writing angles in different areas, including Business, climate change, politics, Education, and others.
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