As Stocks Rise By N360 Billion, NGX Posts A Strong Gain

Thevalueofstocksincreasedby390billiononThursday,reachingN54.71trillion,givingtheNigerianExchangeLimitedimpressivegains. Significantgainsinthebankingindustry,whichresultedinincreasesinthemarketvalueofalltier1banks,werethemaindriverofthismarket’spositiveperformance.

TheNSEsawaslightupswing,withtheNGXAll-ShareIndex,ASI,rising714.28pointstosettleat99,980.3points,reversingthepreviousbearishtrendfortheprevioustradingdays. Withatotalvolumeof542.95millionsharestraded,tradingactivityimproved.Thisrepresentsasignificantincreaseof146.72millionoverthevolumeof396.23millionsharestradedintheprevioussession. Additionally,theoveralltradingvalueincreased,withsharesvaluedatN8.697billionchanginghands.

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With93.71millionunitsexchanged,UBAledtradingactivity.TRANSCORP,JAPAULGOLD,STERLING,andFIDELITYBKwereallveryclosebehind,with54.08million,28.49million,and27.09millionunitstraded,respectively. WithN2.07billionintransactions,UBAwastheleaderintermsoftransactionvalue. WithN1.07billion,NESTLEtooksecondplace,aheadofZenithBank(N768.15),TRANSCORP(N692.19million),andACCESSCORP(N489.37million). Withamodest1.27percentincreaseinmarketvalue,FBNHoldingshasre-enteredtheSWOOTcategory.ThesharepricesofGTCOandZenithBankhavealsoincreased. Ontheotherhand,MTNN,BUACEMENT,BUAFOODS,DANGCEM,GEREGU,SEPLAT,andTRANSCOHOTcontinuetobestable.

Withintheupperechelonsofthebankingindustry,UBAandGTCOexperiencednoteworthyincreasesinmarketvalueof10%. ThemarketvaluesofAccessHolding,ZenithBank,andFBNHoldingswere9.74%,7.86%,and1.27percent,inthatorder.