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

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

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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.

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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.

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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.

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