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  • Business - Market Data
  • Updated: March 06, 2024

NSE market cap surges by N227 billion to N56.31 trillion

NSE market cap surges by N227 billion to N56.31 trillion

The Nigerian Stock Exchange (NSE) market capitalisation increased significantly by N227 billion to N56.31 trillion, indicating strong investor demand.

TRANSPOWER and FBNH were major contributors to this impressive performance, with share prices rising significantly.

The NSE's NGX All-Share Index (ASI) rose by 401.18 points to close at 99,591.64.

The market sentiment was positive, with TRANSPOWER emerging as the best performer of the 18 stocks that rose, both up 9.9%. In contrast, IKEJAHOTEL and TANTALIZER suffered the most among the 30 stocks that fell, both falling by 10%.

TRANSCORP was the most active stock in terms of volume, while TRANSPOWER led the value chart at the close of trading.

The market turnover decreased to 9,338 transactions for the day, down from 10,976 transactions reported in the previous session. 

Market Indices   

The NGX All-Share Index closed at 99,591.64 points, up slightly from the previous session's 99,190.46 points and with a day change of +0.40%. The index has grown by 33.19% year to date, up from +32.65% the previous year. The market capitalization totaled N56.31 trillion.

In terms of trading volume, a total of 416.48 million shares were traded, worth N19.51 billion, in 9,338 transactions. This indicates an increase in trading volume over the previous session.

Gainers

The top gainers were TRANSPOWER, TRANSCORP, FBNH, AFRIPRUD, and CILEASING, which saw increases ranging from +9.48% to +9.99%, with TRANSPOWER leading the way at N319.40.

Losers

IKEJAHOTEL, TANTALIZER, NASCON, ETI, and LIVESTOCK were the top losers, with declines ranging from -9.82% to -10%, with IKEJAHOTEL closing at N6.75.

Overall, the market saw mixed performances among the top traded stocks, with total volume up from the previous session.

Today's volume leaders were TRANSCORP (67.34 million units), FBNH (47.69 million), GTCO (37.47 million), TRANSPOWER (36.89 million), and UBA (29.78 million).  

The value of shares traded today fell by 38.63% to N19.51 billion, down from N31.79 billion the previous session. 

The top contributors to the value of shares traded were TRANSPOWER (N11.78 billion), GTCO (N1.56 billion), FBNH (N1.55 million), TRANSCORP (N1.28 billion), and UBA (N660.45 million).

TRANSPOWER led the SWOOT sector, with a 9.9% increase in market value, followed by FBN Holdings, which saw its share price rise by 9.95%. In contrast, GTCO and Zenith Bank's stock prices fell. 

Other SWOOT companies, including AIRTELAFRI, BUACEMENT, BUAFOODS, DANGCEM, GEREGU, MTNN, SEPLAT, and TRANSCOHOT, did not change significantly. 

Only FBN Holdings outperformed the top banks, with a 9.95% increase. Zenith Bank, Access Holdings GTCO, and UBA's stock prices fell by 4.23%, 0.96%, 0.84%, and 0.23%, respectively. 

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