Emmanuel Ochayi
In a thrilling display of market exuberance, the Nigerian Exchange Group (NGX) witnessed a surge today, with the All-Share Index (ASI) soaring to 73,397.71 points, marking 1.28% increase.
The market’s bullish momentum propelled equities, bolstering the total market capitalization to an all-time high of N40.164 trillion, surging by an astounding N508 billion.
Join our WhatsApp ChannelLeading this surge were Multiverse and Transcorp, both ascending by 10%, dominating the gainers’ chart. Infinity, with its third consecutive appearance on the top gainers’ list, further emphasized the market’s buoyancy.
Market activity experienced an uptick, witnessing a surge in turnover. Traded volume escalated to 554.64 million units, a notable rise from the previous day’s 411.21 million units. Moreover, the value of trades surged by 84.6%, climbing to N12.83 billion from N6.95 billion.
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The market indices showcased a robust performance throughout the trading session with NGX All-Share Index reached an intraday high of 72,489.21 points, closing at 73,397.71 points. The day’s lowest point stood at 72,320.32 points, signifying a resilient upward trajectory. The Year-to-Date percentage impressively stood at +41.40%, underscoring the market’s bullish trend.
Among the top gainers, Multiverse, Transcorp, Infinity, ETRANZACT, and Caverton all exhibited substantial upward movements, whereas Tantalizer, Thomaswy, TIP, Juli, and Chams found themselves among the top losers.
The most actively traded stocks by volume included GTCO, ACCESSCORP, Transcorp, FCMB, and UBA. Meanwhile, in terms of value, GTCO, AIRTELAFRI, ACCESSCORP, Zenith Bank, and UBA took the lead.
In the SWOOT category, notable gains were recorded by AIRTELAFRI, ZENITHBANK, and GTCO, while BUACEMENT, BUAFOODS, DANGCEM, MTNN, and SEPLAT remained stable with no price changes.
For tier-1 banks, UBA, ACCESSCORP, ZENITHBANK, and GTCO exhibited positive movements, while FBNH faced a minor setback.
The market’s surge and attainment of the N40 trillion milestone reflect an investor sentiment highly optimistic about the economic outlook, signaling a resounding endorsement of the country’s financial markets.
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.
