Business
NGX records highest single-day gain in seven months, ASI crosses 83,000 points
In continuation of the 2024 boom, the NGX has achieved its highest single-day gain since June 13, 2023. The All-Share Index appreciated by 3.57%, gaining 2,867.31 points to reach a total of 83,191.84 points.
The milestone achieved comes one day after the All-Share Index crossed the 80,000 mark.
Equities gained about N1.567 trillion as the market capitalization appreciated by 3.57% to N45.524 trillion, from yesterday’s N43.957 trillion. Some of the biggest gainers in the market included FBN Holdings (First Bank) which gained about 10% to rebound back into the SWOOT category. Consumer goods companies, Unilever and Cadbury also gained about 10% each.
In terms of trading volume, there was an 18.5% appreciation to 1.41 billion units, compared to yesterday’s 1.19 billion units. Also, in trading value, there was a whopping 61.7% appreciation to N24.68 billion from yesterday’s N15.26 billion.
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In terms of volume, FIDELITYBK (+4.49%) led with about 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.
Concerning value, UBA (+9.03%) topped 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.
There was an extremely positive trading sentiment for stocks worth over N1 trillion as almost all of the members of the SWOOT category recorded impressive gains.
GTCO (+9.55%), ZENITHBANK (+9.99%), UBA (+9.03%), BUAFOODS (+5.59%), MTN (+3.51%), and DANGCEM (+3.72%) all recorded gains, while BUACEMENT, AIRTELAFRI, and SEPLAT recorded no price changes.
FBNH gained 10%, surpassing the N1 trillion market capitalization level. However, this is not the first time the group has reached this milestone.
Tier-1 banks drove the market’s positive performance, as they all recorded impressive gains, FBNH (+10.00%), UBA (+9.03%), GTCO (+9.55%), ACCESSCORP (+8.39%), and ZENITHBANK (+9.99%).