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  • Business - Market Data
  • Updated: March 21, 2024

NSE’s NGX All-Share Index rises by 130.66 points

NSE’s NGX All-Share Index rises by 130.66 points

In Thursday’s trading session, the Nigerian Stock Exchange’s (NSE) NGX All-Share Index (ASI) witnessed an increase of 130.66 points, settling at 104,387.47 points compared to the previous close of 104,256.81 points.

This uptick reflected a positive market sentiment, with investors showing growing confidence in equities.

Market Capitalization Surpasses N59 Trillion Mark

The stock market gained N73.88 billion in market capitalization, reaching a total of N59.02 trillion. This surge was primarily driven by favorable market conditions and increased investor participation across various sectors.

Financial Sector Leads Market Uptrend

The financial sector played a significant role in driving the market’s upward trajectory, with major players except FBN Holdings witnessing increases in their stock values. This sector’s resilience contributed to the overall positive performance of the market.

JULI Emerges as Top Gainer

Among 22 appreciating stocks, JULI emerged as the top gainer, recording a remarkable growth of 10%. This surge in JULI’s stock value indicates investor optimism and interest in specific equities.

DEAPCAP Records Highest Decline

On the other hand, DEAPCAP experienced a decline of 10%, emerging as the poorest performer among the 29 depreciating stocks. This decline underscores the volatility present in certain segments of the market.

Uptick in Trading Volume and Value

Market activity showed improvement, with a total of 8,790 deals recorded for the day. Volume traded surged by 38.16 million shares to reach 336.82 million units, while the value of shares traded saw a significant rise to N9.29 billion.

Top Traded Stocks

Among the most traded stocks by volume were UBA, ACCESSCORP, ZENITHBANK, TRANSCORP, and GTCO. These stocks attracted significant investor interest, driving trading volume in the market.

Sectoral Performance

Major banks experienced gains in their performance, with Zenith Bank, GTCO, Access Holdings, and UBA witnessing notable increases in their stock values. However, FBN Holdings stood as the sole underperformer among the banking stocks.

Overall, the stock market witnessed positive momentum, driven by increased investor confidence and favorable market conditions. Despite certain pockets of volatility, the market remained resilient, reflecting the dynamic nature of equities trading.

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