News
NGX ASI Hits 84,640.89 Points, with Dangote Cement Soaring by 7.49%
NGX ASI Hits 84,640.89 Points, with Dangote Cement Soaring by 7.49%
The Nigerian stock market witnessed a remarkable surge today as the NGX All-Share Index (ASI) closed at 84,640.89 points, marking a significant gain of 1.92%, equivalent to 1,597.93 points. This bullish trend resulted in equities gaining N1.118 trillion, propelling the market capitalization to N46.319 trillion from the previous N45.199 trillion.
Dangote Cement emerged as a standout performer, experiencing a substantial 7.49% increase at the NGX, leading to a remarkable market cap gain of N430 billion. This surge is part of the ongoing upward trajectory in the NGX, reflecting positive investor sentiment and market dynamics.
Notable market movements included Access Bank reclaiming its position in the N1 trillion market cap territory, while FBN Holdings experienced a drop. Additionally, Geregu Power recorded a notable 7.52% gain, propelling it into the prestigious SWOOT category.
Trading activities also witnessed an upsurge, with a 34% increase in trading volume to 807.51 million units from the previous 600.63 million units. Similarly, there was a 21% rise in trading value, reaching N11.03 billion from the N9.1 billion recorded during the last trading session.
The day’s market indices stood as follows:
NGX All-Share Index: 84,640.89 points
% Day Change: +1.92%
Day’s Lowest: 82,949.40 points
Day’s Highest: 84,640.89 points
% YTD: +13.2%
Market Cap: N46.32 trillion
Volume Traded: 807.51 million units
Value Traded: N11.03 billion
Top gainers included PZ, MANSARD, CHAMS, DAARCOMM, SOVREINS, and TANTALIZER, each recording a 10.00% increase in their respective stock prices. On the other hand, ABBEYBDS, JBERGER, CUSTODIAN, AFRIPUD, FBNH, and CHAMPION were among the top losers for the day.
In terms of volume, TRANSCORP led with 66.89 million units, followed by AIICO, WEMABANK, JAIZBANK, and FCMB. Regarding value, NASCON, ZENITHBANK, TRANSCORP, UBA, and MTNN were the top traded stocks for the day.
The SWOOT group saw predominantly positive trading, with notable gains for BUACEMENT, DANGCEM, GTCO, ZENITHBANK, and UBA. Conversely, FBNH experienced a decline, falling below the N1 trillion market cap level, while ACCESSCORP recorded a gain to reenter the SWOOT category.
The day’s performance at the NGX reflects a robust market environment, characterized by significant gains, notable movements, and increased trading activities. These developments underscore the dynamic nature of the Nigerian stock market and the evolving opportunities it presents for investors and market participants.
