The Nigeria Exchange Limited has once again witnessed an outstanding surge, with the All-Share Index (ASI) appreciating by 0.62%, reaching an impressive 78,020.54 points. This remarkable performance marks the third consecutive day of gains for the exchange, demonstrating a positive trend in the market.
On Thursday’s close of trading, equities gained a notable N263 billion, with the market capitalization appreciating by 0.62% to close at N42.694 trillion, reflecting a substantial increase from the previous day’s N42.43 trillion. Additionally, trading volumes experienced a slight uptick to 984.193 million units, a 0.06% increase from the previous day’s 927.558 million units. The stock trade value also saw an increase, rising by 0.04% to N11.16 billion from N10.69 billion.
Notable gainers in the market include WEMABANK (+10.00% to close at N6.71), LEARNAFRCA (+10.00% to close at N3.19), TRANSCORP (+9.93% to close at N11.51), IKEJAHOTEL (+9.92% to close at N7.98), and STERLINGNG (+9.83% to close at N5.25). On the other hand, key losers were MULTIVERSE (-9.97% to close at N20.22), MEYER (-9.75% to close at N3.24), TRIPPLEG (-9.30% to close at N1.95), JOHNHOLT (-8.62% to close at N2.12), and ABCTRANS (-8.25% to close at N0.89).
In terms of volume traded, FCMB (+7.88%) led with 106.81 million units, followed by FIDELITYBANK (+6.80%) with 103.06 million units, UNITYBNK (+9.74%) with 75.79 million units, STERLINGNG (+9.83%) with 71.56 million units, and UNIVINSURE (+3.57%) with 43.70 million units. In value terms, FIDELITYBK (+6.80%) took the lead with N1.31 billion, followed by ZENITHBANK (+0.86%) with N1.18 billion, FCMB (+7.88%) with N957.53 million, ACCESSCORP (-3.47%) with N877.98 million, and UBA (-2.10%) with N839.55 million.
The trading sentiment was notably positive for stocks worth over N1 trillion, as GTCO (+1.20%), MTNN (+2.84%), and ZENITHBANK (+0.86%) recorded price gains. However, tier-1 banks experienced a negative trading sentiment, with UBA (-2.10%), ACCESSCORP (-3.74%), and FBNH (-2.34%) reflecting price declines.
This impressive performance not only demonstrates the resilience of the Nigerian stock market but also signals potential opportunities for investors. The positive momentum in the market reflects growing confidence and optimism among market participants, setting a bullish tone for future trading sessions.
