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  • Business - Market Data
  • Updated: July 10, 2023

Nigerian Stock Market Hits All-Time High With Strong Bullish Momentum

Nigerian Stock Market Hits All-Time High With Strong Bullish

The Nigerian equity market opened the week on a bullish note, with a significant increase in value.

The market capitalization rose by 1.35 trillion, reaching N35.18 trillion, indicating a positive sentiment among investors.

The Nigerian Stock Exchange All Share Index (NGX ASI) closed at 64,603.69 points, reflecting a strong performance and signaling optimism for the future.

The trading volume reached 1.84 billion shares valued at N22.03 billion, with a total of 2,487 deals executed during the session.

DAARCOMM emerged as the top gainer with a 10.00% increase in share price, while PHARMDEKO experienced the largest decline with a 9.85% decrease.

FBNH recorded the highest trading volume. Overall, market activity was robust, with a significant increase in the number of transactions compared to the previous session.

Today's market was driven by the impressive performance of companies like DAARCOMM, MRS, and NEIMETH, which saw a remarkable 10% increase in share prices.

However, there were also declines, with PHARMDEKO, UNIONDICON, and BERGER experiencing losses. The trading volume surged to 1.84 billion shares, indicating heightened activity in the market.

FBNH, UNIVINSURE, and STERLINGNG were the top stocks in terms of trading volume, while FBNH, STERLINGNG, and TRANSCORP led in terms of trading value. DANGOTE CEMENT, UBA, and MTN NIGERIA contributed to the overall market value growth, while GTCO and ZENITH BANK witnessed declines.

The market remained stable for companies like AIRTEL AFRICA, BUA CEMENT, and BUA FOODS, with no significant fluctuations in their share prices.

The Nigerian stock market showcased a positive performance driven by major banks such as FBNH, UBA, and ACCESS HOLDINGS, although GTCO and ZENITH BANK experienced losses.

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