Yesterday’s market trading value increased by 84.7%, as shares worth N95.01 billion were traded, up from N10.31 billion the day before.
This huge growth demonstrates the high level of interest in and investor confidence in the Nigerian stock market.
The stocks market gained N270 billion on Thursday as investors’ confidence in the firms rose.
The All-Share Index increased by 496.31 points (0.81%) to 62,019.88 as the market capitalization rose from N33.50 trillion at the previous session close to N33.77 trillion.
After the administration of President Bola Tinubu abolished fuel subsidies and depreciated the naira, the NGX All Share Index is anticipated to return to a level last seen in 2008.
The Nigerian Stock Exchange’s (NSE) excellent performance was led by large increases in the banking industry, with a share index jumping 23% in June.
Another key element fueling the stock market’s rise is the desire of local investors to protect their money from rising inflation.
The market indexes revealed the following values during today’s trading session: The NGX All-Share Index (ASI) closed at 62,019.88 points, up 0.81% on the day.
The index is up 21.01% year to date. N33.77 trillion was the overall market capitalization. 5.44 billion shares were exchanged, worth N95.01 billion, in a total of 9,948 transactions.
Today’s trading session concluded well, with CONOIL rising by 10.00% to become the top gainer, while WAPIC fell by 9.59% to become the worst performer. At the market’s closure, FBNH had the biggest volume of traded stocks.
Today’s market trading value increased by 84.7%, with shares worth N95.01 billion moved, up from N10.31 billion the previous day.
The market executed 9,948 transactions for the day, up from 9,815 in the previous session.
Today’s top three stock market performers were CONOIL, MRS, and ETERNA, all of which had their share prices rise by a whopping 10%.
WAPIC, UPDC, and INTENEGINS, on the other hand, underperformed the market, losing 9.59%, 9.24%, and 9.09%, respectively. These equities helped to counterbalance some of the advances experienced by other industries.
Today’s trading activity increased, with 5.44 billion shares exchanged, up from 846.3 million yesterday, showing a 4.59 billion rise in the number of shares traded.
In today’s market, the top three stocks in terms of trading volume were FBNH, FCMB, and ACCESSCORP. With 4.69 billion units, FBNH had the biggest volume, followed by FCMB with 126.77 million units and ACCESSCORP with 56.48 million units. These stocks accounted for 86.5% of the 5.44 billion unit market volume.
Today’s top three stocks by market capitalization were FBNH, ACCESSCORP, and FCMB. They totalled N87.8 billion, N1.02 billion, and N744.09 million.
Swoot’s market value improved as a result of two significant firms’ strong performance: DANGOTE CEMENT and ZENITH BANK, which gained by 1.75% and 1.32%, respectively, and GTCO, which declined by 0.14%.
Today’s market for BUA CEMENT, AIRTEL AFRICA, MTN NIGERIA, and BUA FOODS remained steady. These firms’ pricing remained unchanged and finished the day at the same level as yesterday.
The Nigerian stock exchange concluded on a high note today, due to the strong performance of several of the country’s largest institutions.
The top gainers were FCMB, ACCESS HOLDINGS, UBA, and ZENITH BANK, which added 7.08%, 2.51%, 1.91%, and 1.32% to their share prices, respectively. GTCO, on the other hand, was the sole laggard among the banking stocks, losing 0.14% of its value.