Business News

Market resurgence continues as ASI closes week at 101,330.85 points  

Continuing the upward trajectory observed in the NGX throughout this week, the market’s All-Share Index appreciated further by 995.55 points, representing 0.99%, to close at 101,330.85 points.

Equities also gained N560 billion today as the market capitalization appreciated to N57.29 trillion, up from yesterday’s N56.73 trillion.

Similar to yesterday, the market’s performance was led by familiar stocks, MTN Nigeria and Dangote Sugar, which gained 9.99% and 9.98%, respectively, leading the day’s gainers.

FTNCOCOA continued its losing streak, as its share price declined by 9.80% today, after losing 10% yesterday.  

In terms of trading volume, there was a 35.4% decline to 358.12 million units from yesterday’s 554.72 million units. However, in terms of value, there was 12.1% increase to N19.88 billion from yesterday’s N17.73 billion.  

In terms of trading volume, TRANSCORP (-0.58%) led with 92.87 million units, followed by TRANSPOWER (+2.48%) with 30.51 million units, UBA (+1.86%) with 26.19 million units, ACCESSCORP (+0.75%) with 23.28 million units, and GTCO (+0.98%) with 18.04 million units.  

Concerning value, TRANSPOWER (+2.48%) led with N11.645 billion, followed by TRANSCORP (-0.58%) with N1.57 billion, MTNN (9.99%) with N1.27 billion, NESTLE (0.00%) with N1.06 billion, and GTCO (+0.98%) with N734.5 million. 

Trading sentiment was positive for stocks worth over one trillion, as MTNN (+9.99%), ZENITHBANK (+0.15%), GTCO (+0.98%), TRANSPOWER (+2.48%), and TRANSCOHOT (+3.17%) recorded price gains. Other members of the category, AIRTELAFRI, SEPLAT, GEREGU, DANGCEM, BUACEMENT, and BUAFOODS recorded no price changes. Only FBNH (-1.07%) recorded a price decline 

Tier-1 banks also recorded a positive trading sentiment as ZENITHBANK (+0.15%), GTCO (+0.98%), ACCESSCORP (+0.75%), and UBA (+1.86%) recorded price gains, while FBNH (-1.07%) recorded a price decline.