In a groundbreaking achievement, the Nigerians Exchange Limited (NGX) reached an unprecedented milestone, with the All-Share Index (ASI) concluding at an extraordinary 80,324.53 points, marking a remarkable increase of 0.83% on Monday.
The significant surge saw equities amass an impressive N363 billion in gains, propelling the market capitalization to N43.957 trillion from the previous N43.594 trillion recorded on Friday.
This exceptional feat was accompanied by a staggering 33.3% rise in traded volume, surging to 1.19 billion units from Friday’s 892.68 million units. Moreover, there was a substantial appreciation in value, with an increase of N15.26 billion from the previous N14.33 billion.
Analysis of the trading day revealed notable gainers, including JBERGER, JBERGER at +10.00% closing at N46.75, CUTIX at +10.00% closing at N2.75, JAIZBANK at +10.00% closing at N2.53, LASACO at +10.00% closing at N2.42, CORNERST at +10.00% closing at N1.87, and OMATEK at +10.00% closing at N0.99.
Conversely, some stocks experienced declines, with DAARCOMM falling by -9.30% to close at N1.17, ETERNA dropping by -8.79% to close at N15.05, CWG decreasing by -7.05% to close at N8.30, PZ declining by -6.90% to close at N27.00, FIDELITYBK decreasing by -5.99% to close at N13.35, and MCNICHOLS falling by -5.88% to close at N0.96.
The top traded stocks in terms of volume were led by TRANSCORP, gaining +9.79% with 298.3 million units, followed by FCMB at +9.23% with 106.05 million units, FIDELITYBK at -5.99% with 87.65 million units, STERLINGNG at +9.88% with 62.55 million units, and UNITYBNK at +9.79% with 32.57 million units.
In terms of value, TRANSCORP led with N4.08 billion, followed by FIDELITYBK with N1.19 billion, MTNN with N1.14 billion, FCMB with N1.08 billion, and UBA with N829.53 million.
Notably, MTNN experienced a price decline of -0.70%, whereas ZENITHBANK and GTCO saw a price gain of +2.50% and +3.57% respectively. UBA recorded a substantial 3.28% gain, elevating the company into the SWOOT category with a market cap of N1.02 trillion.
The trading also favored tier-1 banks, with GTCO, UBA, ZENITHBANK, and ACCESSCORP recording impressive price gains, while FBNH remained stable with no price change. This monumental achievement signifies the robust performance and resilience of the Nigerian financial market, positioning NGX as a pivotal player on the global stage.
This historic milestone stands as a testament to Nigeria’s economic prowess and marks a momentous occasion that reverberates throughout the international financial community, solidifying the nation’s position as a key player in the global market.
