Nigerian Stock Exchange earns N156.91 billion in equity; UBA falls into the SWOOT category

The Nigerian Stock Exchange (NGX) extended its bullish run today, marking its fifth consecutive day of gains.

The All-Share Index (ASI) rose 0.26%, gaining 258.96 points to close at 99,448.91 points.

Market capitalization also saw growth, increasing by N156.91 billion to N60.26 trillion, up from N60.10 trillion.

This marks the second consecutive day that NGX has breached the N60 trillion mark, highlighting renewed investor confidence.

While trading volume rose 14.96% to 460.85 million shares from 400.91 million in the previous session, trading value declined, indicating a more cautious sentiment among investors.

The total value of transactions decreased by N6.19 billion to close at N9.52 billion compared to N15.71 billion in 8,772 transactions.

Market Summary

Current ASI: 99,448.91
Previous ASI: 99,189.95
Change of the day: 0.26%
Annual performance: 33%
Volume traded: 460.85 million shares
Value traded: N9.52 billion
Total offers: 8,772

Top winners

CAP: 10% to N38.5
ZEPTEIN: 10% to N3.41
EUNISELL: 9.72% to N3.50
MAYBAKER: 9.56% to N7.45
ROYALEX: 9.23% to N0.71

The most defeated

DAARCOMM: -9.86% to N0.64
MCNICHOLS: -5.10% to N1.49
FTNCOCOA: -4.76% to N1.80
FIDELITYBK: -2.72% to N14.30
CHAMS: -2.44% to N2.00

Most traded stocks

As a result of the recent intensified activity, trading volume increased by 14.96% to 460.85 million shares from the previous session’s 400.91 million shares.

However, the value of trade declined by 39.38% to N9.52 billion from N15.71 billion, indicating a shift in investor focus despite the increase in volume.
UBA led the list with the highest value traded, contributing N2.60 billion, followed by ARADEL with N2.06 billion, ZENITHBANK with N753.27 million, ACCESSCORP with N628.04 million and CAP with N454.36 N million.

Trading activity saw an increase in volume with 59.94 million shares, with CHAMS leading the pack with a volume of 97.66 million shares. UBA followed closely with 88.47 million shares, while STERLINGNG contributed 32.30 million shares, ACCESSCORP added 28.19 million shares and ZENITHBANK recorded 18.82 million shares.

SWOOT and FUGAZ update

SWOOT stocks, which include DANGOTE CEMENT, AIRTEL AFRICA, BUA CEMENT, BUA FOODS, SEPLAT, GEREGU, OANDO, TRANSCORP POWER, TRANSCOHOT, remained relatively flat throughout the trading session.

In the SWOOT category, ARADEL led with an increase of 6.61%, followed by UBA with a gain of 3.79%. However, ZENITHBANK was down 0.25%, GTCO was down 1.89% and MTNN was down 2.39%.

Mixed results were also observed in the FUGAZ category. UBA was the only gainer, up 3.79%, while ACCESSCORP fell 0.23%, FBN Holdings 0.17%, ZENITHBANK 0.25% and GTCO 1, 89%

Outlook

The market closed positively today, even with a noticeable decrease in transaction value, while the trading volume increased by 14.96%, the total value traded decreased by 39.38%.

United Bank of Africa entered the SWOOT category, breaking the one trillion naira mark and becoming the 14th stock to join this group.

If the current trading activity continues, the market is likely to maintain its uptrend.