Emmanuel Ochayi
In a display of bullish strength, the Nigerian Stock Exchange (NGX) witnessed a surge today, propelling the All-Share Index to 101,571.11 points, marking a 3% increase. This surge added a 2,954.14 points to the index from yesterday’s 98,616.97 points.
The market capitalization mirrored this robust performance, reaching N55.58 trillion. Equities gained N1.62 trillion, reflecting a 3% surge compared to the previous day’s N53.97 trillion.
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Fueling today’s rally were familiar contenders: BUA Cement led with a 9.98% gain, closely followed by Dangote Cement, which secured a 6.49% increase, and BUA Foods, with 5.49% gain.
Despite a 34.65% decline in trading volume to 488.49 million units, and a 50.6% reduction in trading value to N8.04 billion, the market’s enthusiasm remained palpable.
The year-to-date percentage change stands at +35.84%, underscoring the sustained upward trajectory. Among the top gainers, WAPIC took the lead with a significant 10.00% increase, closing at N0.88.
Conversely, some stocks experienced losses, with NEM leading the pack with a -10.00% decline, closing at N7.20.
Notably, the top traded stocks showcased a dynamic mix, with TRANSCORP leading in volume at 95.11 million units and TRANSCORP also leading in value at N1.56 billion.
In a development, SWOOT stocks, including BUACEMENT, BUAFOODS, DANGCEM, and GTCO, collectively contributed to a market rally worth over N1 trillion. FBNH, however, experienced a continued bearish trend with a 0.78% decline today. The NGX’s bullish momentum suggests an exciting period for investors as the market continues to scale new heights.
