First Bank’s Market Surge Leads NGX As ASI Appreciates By 0.78%

In an unprecedented surge, the Nigerian Exchange Group (NGX) witnessed an ascent in market indices today, highlighted by the All-Share Index (ASI) rallying by 0.78% to conclude at 71,808.64 points.

This surge translated into equities gaining N472 billion, with the market capitalization closing at a robust N39.295 trillion.

The standout event of the day was the rise of FBN Holdings (FBNH), which soared by 9.91% to conclude at N29.40 per share.

This surge propelled the bank’s market capitalization into the esteemed N1 trillion club, crossing the threshold to stand at a commanding N1.055 trillion. This achievement underscores First Bank’s role and substantial value within the market.

READ ALSO: NGX Appreciates By 0.43%, NSLTECH, FBNH, MULTIVERSE Lead Gainers

A notable upsurge in trading volume was witnessed, surging by 59.15% to reach 690.011 million units, starkly contrasting yesterday’s figure of 433.568 million units.

Similarly, the trading value saw an uptick, reaching N12.1 billion compared to the previous day’s N11.1 billion.

With the NGX All-Share Index at 71,808.64 points, a daily change of +0.78%, ranging between a low of 71,242.31 points and a high of 71,866.37 points, an impressive Year-to-Date percentage of +40.11%, a market capitalization of N39.29 trillion, a traded volume of 690.01 million units, valued at N12.1 billion across 8,412 deals.

Among the top gainers were THOMASWY (+9.92%), MULTIVERSE (+9.90%), and ETI (+9.88%). Conversely, MANSARD (-9.69%), GUINEAINS (-9.68%), and OANDO (-9.13%) found themselves among the top losers.

Top Traded Stocks: In terms of volume, GTCO led with 76.70 million units, followed by UBA, FIDELITYBK, ACCESSCORP, and UNIVINSURE. Concerning value, GTCO also led, followed by UBA, ZENITHBANK, ACCESSCORP, and MTNN.

SWOOT and FUGAZ Update: FBNH’s ascent into the N1 trillion market cap club marked a significant development within the SWOOT category.

While ZENITHBANK, GTCO, and MTNN showed positive price gains, others in the category remained steady with no significant price changes.

Tier-1 banks exhibited bullish trends, with FBNH and ACCESSCORP posting impressive gains of above 9%, while ZENITHBANK, GTCO, and UBA also recorded notable upticks in their stock prices.

Today’s market performance, especially the rise of FBN Holdings, signals a dynamic shift in the equities landscape, spotlighting the resilience and potential of key players within the Nigerian market.