NGX Achieves Highest Single-Day Gain In 7 Months

The Nigerian Stock Exchange (NGX) witnessed a historic performance today, recording its highest single-day gain since June 13, 2023.

The All-Share Index surged by an impressive 3.57%, pushing past the 80,000 mark for the second consecutive day and settling at 83,191.84 points.

This remarkable rally signifies a continuation of the 2024 boom, injecting optimism into the Nigerian economy and investors alike.

Equities witnessed an astounding gain of approximately N1.567 trillion as the market capitalization rose by 3.57% to N45.524 trillion, showcasing a substantial increase from the previous day’s N43.957 trillion. Notable gainers in today’s market included FBN Holdings (First Bank), rebounding by 10% to re-enter the SWOOT category. Additionally, consumer goods companies like Unilever and Cadbury also experienced a 10% surge in their stock prices.

In terms of trading volume, there was an 18.5% increase to 1.41 billion units, compared to the previous day’s 1.19 billion units. Moreover, there was an astonishing 61.7% spike in trading value to N24.68 billion from yesterday’s N15.26 billion.

Market Indices

• NGX All-Share Index: 83,191.84 points
• % Day Change: +3.57%
• Day’s Lowest: 80,302.25 points
• Day’s Highest: 83,240.25 points
• % YTD: +11.26%
• Market Cap: N45.52 trillion
• Volume Traded: 1,410 million units
• Value Traded: N24.68 billion

Top Gainers:

• FBNH: +10.00% to close at N28.60%
• CADBURY: +10.00% to close at N18.15
• UNILEVER: +10.00% to close at N18.15
• FTNCOCOA: +10.00% to close at N2.20
• MBENEFIT: +10.00% to close at N0.77
• GUINEAINS: +10.00% to close at N0.44

Top Losers:

• TOTAL: -10.00% to close at N346.50
• DAARCOMM: -9.40% to close at N1.06
• RTBRISCOE: -8.45% to close at N0.65
• SUNUASSUR: -7.69% to close at N1.20
• PRESTIGE: -7.41% to close at N0.50
• THOMASWY: -6.37% to close at N2.50

Top Traded Stocks:

In terms of volume, FIDELITYBK (+4.49%) led with approximately 141.75 million units, followed by FCMB (+9.86%) with 128.97 million units, UBA (+9.03%) with 117.71 million units, TRANSCORP (+2.81%) with 108.34 million units, and ACCESSCORP (+8.39%) with 85.08 million units.

Regarding value, UBA (+9.03%) led with N3.78 billion, followed by ACCESSCORP (+8.39%) with N2.53 billion, GTCO (+9.55%) with N2.14 billion, ZENITHBANK (+9.99%) with N2.12 billion, and FIDELITYBK (+4.49%) with N1.97 billion.

*SWOOT and FUGAZ Update:*

The SWOOT category observed an extremely positive trading sentiment, witnessing substantial gains for stocks valued over N1 trillion. Most members of the SWOOT category recorded impressive increases in their stock prices.

GTCO (+9.55%), ZENITHBANK (+9.99%), UBA (+9.03%), BUAFOODS (+5.59%), MTN (+3.51%), and DANGCEM (+3.72%) showcased gains. Meanwhile, BUACEMENT, AIRTELAFRI, and SEPLAT experienced no price changes.

FBNH soared by 10%, surpassing the N1 trillion market capitalization level, marking a significant milestone for the group. However, this is not the first time the group has reached this milestone.

Tier-1 banks notably contributed to the market’s positive performance, registering impressive gains. FBNH (+10.00%), UBA (+9.03%), GTCO (+9.55%), ACCESSCORP (+8.39%), and ZENITHBANK (+9.99%) stood out in today’s trading session.