Nigerian Equities Surge To Global Top 3, As Returns Hit N8.7trn

ASI Appreciate By 1.28% As Equities Gain N508 billion

6 months ago
1 min read

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.

Leading 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.

READ ALSO: Market Capitalization Rises To N39.65trn As ASI Increases To 72,455 Mark

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.


MOST READ

Follow Us

Latest from Business

Nigerian Equity Market Recovers With N144bn Gain

Nigerian Equity Market Recovers With N144bn Gain

The Nigerian equity market bounced back from Tuesday’s loss with a significant gain of N144 billion on Thursday. The recovery was driven by notable performances from Nigerian Breweries, Unity Bank, NEM Insurance,

Don't Miss

Equity Market Gains N323bn As Key Stocks Soar

Equity Market Gains N259bn In 4th Consecutive Rally

The equity market continued its upward momentum on