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  • Business - Market Data
  • Updated: November 28, 2023

Nigeria stock exchange thrives, FBN Holdings leads with 10.00 per cent

Nigeria stock exchange thrives, FBN Holdings leads with 10.0

The Nigerian stock market displayed bullish mood throughout today's trading session, mostly due to the strong performance of banking companies.

FBN Holdings (FBNH) was the top gainer with a significant 10.00% increase. While the NGX All-Share Index gained 0.17% on the day, closing at 71,353.81 points, the market capitalization fell slightly, closing at N39.04 trillion.

Trading activity increased, with 746.67 million shares changing hands, an increase over the previous Friday's 582.77 million units. The total value of transactions increased as well, reaching N5.95 billion from N4.27 billion last Friday.

The market registered a significant number of transactions, totaling 9,267, indicating active activity and increased investor interest.

Several equities rose to the top of the gainers list during today's session.

Gains of 10.00% were registered by JohnHolt, FBN Holdings (FBNH), Tantalizer, Multiverse, and Sunu Assurance (SUNUASSUR), indicating good price developments. Multiverse showed a significant upward trend, concluding at N6.39 with a 9.98% gain, while Sunu Assurance showed notable growth, closing at N1.24 per share with a 9.73% gain.

Certain equities, on the other hand, fell, with E-Tranzact International (ETRANZACT) leading the pack with a 9.46% drop, finishing at N6.70 a share. Unity Bank (UNITYBNK), Omatek Ventures (OMATEK), R.T. Briscoe (RTBRISCOE), and Guiness Nigeria (GUINEAINS) were also among the companies that suffered losses.

UNIVINSURE, ACCESSCORP, UNITYBNK, VERITASKAP, and TRANSCORP led in terms of volume traded. In terms of value exchanged, ACCESSCORP was first, followed by UBA, ZENITHBANK, FIDELITYBK, and MTNN.

Trading in stocks worth more than a trillion dollars remained largely unchanged. BUAFOODS and GTCO had price drops, while ZENITHBANK saw a price increase. Tier-1 banks enjoyed positive feelings following the announcement of a prospective recapitalization exercise, with ZENITHBANK, UBA, ACCESSCORP, and FBNH experiencing price gains, while GTCO registered a price fall.

The stock market report for today illustrates the market's volatile nature, with bullish sentiment driven by banking stocks and significant performances among both gainers and losers. Investor interest is still high, which contributes to increasing trading activity.

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