• Business - Market Data
  • Updated: July 19, 2023

Nigerian Stock Prices Rise By N449 Billion

Nigerian Stock Prices Rise By N449 Billion

The total value of listed shares increased by N449 billion on Tuesday, July 18, 2023, as the Nigerian stock market continued to see good growth. 

Market value increased to N34,722 trillion at the close of Tuesday's session, a small gain of 1.31%.

From the closing of N 34,273 trillion the day before, this constituted a small improvement.

Positive opinions from traders and investors helped to support the market.

The All-Share Index (ASI) of the Nigerian Stock Exchange (NSE) rose 1.31% to close at 63,766.72 points on Tuesday, marking a positive performance.

The increasing investor confidence in the market is reflected in the ASI, which rose 823.37 points from its previous finish of 62,943.35 points on Friday. 

The NGX All-Share Index (ASI) finished at 63,766.72 points in today's trading session, representing a positive day move of 1.31%.

With an incredible gain of 24.42% year-to-date, the market has shown significant growth, and the overall market capitalization now stands at an astounding N34,722 trillion. 

With 868.80 million shares traded for a total of N42.81 billion, there was a large trading activity. 8,970 trades were completed throughout the session, which demonstrated the market's vigour and investors' engaged engagement.

Market dynamics may continue to change throughout the day, providing additional chances for investors to profit from market movements.

NPFMCRFBK emerged as the biggest gainer, with a 10% increase in its share price, as the trading day came to a conclusion with mixed results for the stock market.

The greatest loser, though, was JAPAULGOLD, which fell by 10%. With the most shares traded at the conclusion of the day, FCMB led the market action. 

The number of completed transactions fell to 8,970 from 8,979 in the previous session, indicating a slight decline in trading activity on the market today. 

Three equities had 10% increases in value apiece, signalling a positive trend in the market. The top performers of the day were NPFMCRFBK, NEM, and HONYFLOUR, bolstering traders' and investors' confidence. 

The decrease in the share value of certain important businesses had a negative influence on the market's performance. JAPAULGOLD took the top spot on the losers' list with a 10% decline, followed by FTNCOCOA and COURTVILLE, which both lost 9.84% and 8.64%. 

Tuesday saw a sharp increase in trading activity on the market, with shares moved at a total value of N42.81 billion.

Comparing this to the N13.83 billion registered on Monday, there was a notable rise, showing increased investor demand for shares.

In a single day, the market's transaction value increased by N28.98 billion. 

From the previous day's trading volume of 710.02 million shares, the market's trading volume climbed noticeably by 22.36% to 868.80 million shares. This increased the number of shares traded in the market by 158.78 million. 

Today's market activity was dominated by the three stocks with the greatest trading volumes: FCMB, JAPAULGOLD, and DANGCEM. There were 153.88 million, 110.53 million, and 104.88 million shares traded for each of these equities, respectively. 

Today's market saw a lot of action from DANGCEM, which traded for a staggering N35.81 billion. With a commendable N956.07 million, FCMB came in second, while ACCESSCORP took third with N849.24 million. 

The remarkable performance of DANGOTE CEMENT, which gained 6.67%, propelled the stock market's upturn. With an increase of 1.47%, GTCO also contributed to the market expansion.   

However, losses by ZENITH BANK and UBA of 3.39 and 1.43 per cent respectively, lowered market mood. 

As they closed at the same levels as yesterday, AIRTEL AFRICA, MTN NIGERIA, BUA CEMENT, and BUA FOODS all displayed consistent market performance today.

This suggests that neither their market positions nor investor sentiment have changed materially. 

The success of FBNH, ACCESS HOLDINGS, and GTCO, which gained by 3.75%, 1.87%, and 1.47% respectively, contributed to the stock market's upturn. However, losses of 3.39% and 1.43%, respectively, were experienced by ZENITH BANK and UBA. 

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