Emmanuel Ochayi
THOMASWY, Oando, and other players emerged as the top gainers in Monday’s trading session on the Nigerian Exchange Group (NGX), as the market continued its bullish run. The NGX’s All-Share Index soared by 282.69 points, closing at 70,479.62, setting the tone for a vibrant trading day.
Investors witnessed an increase in market capitalization, with the equities market gaining N156 billion. The market cap reached N38.712 trillion, marking a notable 0.4% appreciation. This surge is attributed to the performance of several key stocks that gained ground during the trading session.
Join our WhatsApp ChannelThe market experienced 6,837 deals, signaling an uptick from the 6,436 deals observed the previous Friday. However, there was a slight decline in trading volume, with 391.014 million units traded compared to the 410.362 million units traded on the preceding trading day. Similarly, in terms of trading value, there was a decrease as N7.71 billion exchanged hands, contrasting with Friday’s N9.16 billion.
READ ALSO: ASI Increases By 0.22%, Equity Gains N75bn As NGX Closes Week Positively
In today’s trading session, the NGX All-Share Index reached 70,479.62 points, representing a 0.40% increase. The market’s lowest point for the day was 70,196.93 points, while it peaked at 70,519.31 points. Year-to-date, the index has surged by 37.52%. The market capitalization closed at N38.71 trillion, with 391.01 million units traded, totaling N7.71 billion in value across 6,837 transactions.
The stars of today’s show were the top gainers: THOMASWY: Displaying strength with a 10.00% increase, closing at N4.07, CHAMS posting a 9.90% gain to close at N2.02, GLAXOSMITH also joined the winning ranks, up by 9.68% and closing at N12.40, OANDO demonstrated resilience with a 9.66% increase, closing at N8.80, and JAPAULGOLD Makes mark with a 9.45% surge, closing at N1.27.
On the flip side, there were some stocks that didn’t fare as well: ABCTRANS Faced a decline of 9.30%, closing at N0.86, CORNERST experienced a loss of 9.27%, closing at N1.51, CHAMPION fell by 9.19% to close at N3.70, INTBREW ended the day with an 8.79% drop, closing at N4.55, and DAARCOMM wrapped up the list of losers with an 8.70% decline, closing at N0.23.
In terms of trading volume, the leaders included UBA which Leads the pack with 1.056 billion units, despite a modest 0.24% increase, FBNH not far behind with 33.268 million units and a 1.69% gain, JAPAULGOLD showing strength with 21.348 million units traded, though with only a 0.12% increase, FIDELITYBK recording 20.439 million units and a significant 6.51% gain, ACCESSCORP closing the top five with 19.503 million units, enjoying a 0.29% increase.
In terms of value, UBA led the way with N2.14 billion in transactions, followed by GEREGU with N1.156 billion, FBNH with N602.499 million, STANBIC with N478.246 million, and ACCESSCORP with N335.651 million.
The stocks worth over one trillion displayed mixed sentiments today. BUACEMENT (+4.43%), GTCO (+0.42%), and SEPLAT (+3.94%) experienced positive price sentiments, while ZENITHBANK (-1.76%) recorded a negative sentiment. BUAFOODS and DANGCEM reported zero price changes.
Tier-1 banks mostly recorded positive price sentiments, driving the overall positive sentiment in the market. FBNH, UBA, GTCO, and ACCESSCORP recorded price appreciations, while ZENITHBANK recorded a price decline.
Investors can look forward to further developments in the market as it continues its bullish run, with key players like THOMASWY and Oando leading the charge in today’s performance.
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.
