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Market Rally: TRANSPOWER’s SWOOT group entry spurs N1.85 trillion market rebound

The NGX market capitalization witnessed a significant increase, soaring by an impressive N1.85 trillion to settle at N55.89 trillion, by the end of the first trading day of the week.

This upward trajectory in the Nigerian Stock Exchange (NSE) was primarily propelled by slight gains in the share prices of BUACEMENT and GEREGU.

In a turnaround from bearish sentiments, the NSE observed a notable uptick, with the NGX All-Share Index (ASI) surging by 95.91 points to reach 98,847.89 points.

The trading session concluded on a positive note, highlighted by a remarkable 9.94% surge in TRANSCORP, emerging as the top gainer among the 25 stocks that recorded gains.

Conversely, UNITYBNK, VITAFOAM, and DANGSUGAR experienced a 10% decline, positioning them as the worst performers among the 25 stocks with losses.

TRANSCORP led in terms of the highest volume of traded stocks by the market close, while TRANSPOWER topped in terms of the highest value of stocks traded.

A total of 10,749 transactions were executed in the market for the day, marking an increase from the 9,168 reported in the previous session.

Here are the market Indices for today’s trading session

Today’s trading activity saw a notable increase, with a total of 429.64 million shares exchanged, marking a rise from last Friday’s figure of 367.62 million shares. This reflects a significant increase of 62.02 million shares in the volume of shares traded.

TRANSCORP led the market in trading volume today, with 203.43 million units, followed by TRANSPOWER with 40 million units, UBA with 19.59 million units, AIICO with 12.67 million units, and ACCESSCORP with 12.39 million units.

The market trading value witnessed a remarkable improvement of 193.76%, with shares totalling N19.924 billion exchanged, contrasting with N6.783 billion traded in the previous trading session.

Regarding value traded, TRANSPOWER took the lead with a significant share of N10.56 billion, followed by TRANSCORP with N3.19 billion, Geregu with N2.30 billion, MTNN with N840.87 million, and DANGSUGAR with N515.05 million.

The SWOOT sector saw mixed performance, with BUACEMENT, GEREGU and FBN Holdings gaining in their stock prices, while MTNN suffered a drop of 7.82%.

Meanwhile, AIRTELAFRI, BUAFOODS, DANGCEM, SEPLAT, TRANSPOWER, and TRANSCOHOT remained steady.

Among the leading banks, only FBN Holdings posted a positive change of 0.89% in their stock value. UBA, Access Holdings, GTCO, and Zenith Bank, however, experienced declines in their share prices, with losses of 3.04%, 0.95%, 0.48%, and 0.14% respectively.

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