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Market rebounds as N390 billion recovery wipes out bearish sentiment on NGX 

The NGX market capitalization witnessed a notable surge, as the value of listed equities soared by N390 billion, reaching N54.71 trillion by the close of the session.

This positive performance of the Nigerian Stock Exchange (NSE) was primarily fueled by significant gains in the banking sector, with all tier 1 banks experiencing increases in their market worth. 

The NSE experienced a modest upswing, reversing the previous bearish trend, with a gain of 714.28 points in the NGX All-Share Index (ASI), settling at 99,980.3 points. 

Trading activity demonstrated improvement, with a total volume of 542.95 million shares traded, marking a notable increase of 146.72 million shares compared to the previous session’s volume of 396.23 million shares. 

Moreover, the total trading value saw an uptick, with shares worth N8.697 billion changing hands, indicating a 49.28% increase from the N5.83 billion recorded in the preceding session. 

Here are the market Indices for today’s trading session    

NGX All-Share Index: 99,980.3 points    

Previous ASI: 99,266.02 points 

% Day Change: +0.72%      

% YTD: +33.71%     

Market Cap: N54.71 trillion     

Volume Traded: 542.95 million units     

Value: N8.697 billion     

Deals: 9,650 

In trading activity, UBA led the pack with a volume of 93.71 million units exchanged, closely followed by TRANSCORP with 54.08 million units, JAPAULGOLD with 34.34 million units, STERLING with 28.49 million units, and FIDELITYBK with 27.09 million units.  

In terms of transaction value, UBA topped the charts, recording transactions worth N2.07 billion. NESTLE secured the second position with N1.07 billion, followed by Zenith Bank with N768.15 million, TRANSCORP with N692.19 million, and ACCESSCORP with N489.37 million. 

In terms of transaction value, UBA topped the charts, recording transactions worth N2.07 billion. NESTLE secured the second position with N1.07 billion, followed by Zenith Bank with N768.15 million, TRANSCORP with N692.19 million, and ACCESSCORP with N489.37 million. 

FBN Holdings has re-entered the SWOOT category, showing a slight 1.27% uptick in its market value, while GTCO and Zenith Bank also experienced gains in their share prices. Conversely, stability persists among AIRTELAFRI, MTNN, BUACEMENT, BUAFOODS, DANGCEM, GEREGU, SEPLAT, and TRANSCOHOT. 

In the top-tier banking segments, both UBA and GTCO saw significant 10% increases in their market values. Access Holding, Zenith Bank, and FBN Holdings recorded rises of 9.74%, 7.86%, and 1.27%, respectively, in their market worth. 

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