NGX Maintains Bullish Trend as ASI Rises by 0.05%, Market Capitalization Hits N59.95 Trillion

The Nigerian Exchange (NGX) closed on a positive note, continuing its bullish momentum for the third consecutive trading day of the week. The All-Share Index (ASI) edged up by 0.05% to close at 98,944.42 points, while market capitalization increased by N29 billion to reach N59.95 trillion, up from N59.92 trillion.

Despite the gain in ASI and market capitalization, trading volume and value sharply declined, nearly pulling the market toward a negative close. Value trading activity fell by a significant 66.63%, dropping from N24.84 billion to N8.29 billion.

Key Market Highlights

  • All-Share Index: 98,944.42 points (+0.05%)
  • Market Capitalization: N59.95 trillion (+N29 billion)
  • Year-to-Date Performance: 32.32%
  • Volume Traded: 283.72 million shares (-51.99%)
  • Value Traded: N8.29 billion (-66.63%)
  • Total Deals: 7,966

Top Gainers

Several stocks drove the market’s positive close, with EUNISELL, OANDO, and UNILEVER leading the gainers, each rising by 10.00%. Other notable gainers included:

  • MCNICHOLS: +9.79% to N1.57
  • REGALINS: +9.62% to N0.57

Top Losers

On the losing end, ARADEL and NNFM topped the decliners with a 9.99% drop each. Other major losers included:

  • CONHALLPLC: -6.12% to N1.38
  • UPDC: -5.81% to N1.46
  • DEAPCAP: -4.76% to N1.26

Top Traded Stocks

UBA led the trade value chart, contributing N3.8 billion, followed by OANDO (N2.5 billion) and NB (N2.1 billion). ZENITHBANK and SEPLAT each added N2.0 billion to the total trade value. On the volume front, UBA topped the list with 66.03 million shares traded, followed by NB (37.37 million shares) and ACCESSCORP (17.57 million shares).

SWOOT and FUGAZ Stocks

The SWOOT stocks remained relatively stable, with ZENITHBANK rising by 4.66% and OANDO among the top gainers with a 10.00% increase. ARADEL declined by 9.99%. The FUGAZ stocks exhibited mixed trends, as GTCO remained unchanged, while UBA surged by 5.19% and FBN Holdings led the pack with a 6.49% gain.

Outlook

The slight increase in ASI signals continued bullish sentiment, though the significant drop in traded volume and value raises concerns about market liquidity. If trading activity does not improve, the market could turn bearish in the next session.

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