The Nigerian Exchange Limited experienced a remarkable upsurge on Tuesday, with the All-Share Index (ASI) soaring by 3.57%, marking its most significant single-day gain since June 13, 2023. This impressive leap amounted to an increase of 2,867.31 points, propelling the ASI to 83,191.84 points.
The fervent trading activities saw equities gaining approximately N1.567 trillion, leading to a substantial 3.57% surge in market capitalization, reaching N45.524 trillion from the previous day’s N43.957 trillion.
Several key players contributed to this bullish market trajectory, notably FBN Holdings (First Bank), which rallied by 10%, tipping back into the SWOOT category. Furthermore, leading consumer goods companies such as Unilever and Cadbury also recorded a commendable 10% gain each.
In terms of trading volume, there was an 18.5% increase, amounting to 1.41 billion units compared to the previous day’s 1.19 billion units. The market also witnessed a substantial 61.7% surge in trading value, reaching N24.68 billion from the previous day’s N15.26 billion.
The top gainers included FBNH (+10.00%), CADBURY (+10.00%), UNILEVER (+10.00%), FTNCOCOA (+10.00%), MBENEFIT (+10.00%), and GUINEAINS (+10.00%). Conversely, the top losers comprised TOTAL (-10.00%), DAARCOMM (-9.40%), RTBRISCOE (-8.45%), SUNUASSUR (-7.69%), PRESTIGE (-7.41%), and THOMASWY (-6.37%).
In terms of volume, FIDELITYBK (+4.49%) led with approximately 141.75 million units, followed by FCMB (+9.86%) with 128.97 million units, and UBA (+9.03%) with 117.71 million units. Concerning value, UBA (+9.03%) topped the chart with N3.78 billion, followed by ACCESSCORP (+8.39%) with N2.53 billion, and GTCO (+9.55%) with N2.14 billion.
The impressive trading sentiment was evident for stocks worth over N1 trillion, with sizeable gains across numerous stock categories. Tier-1 banks played a pivotal role in driving the market’s positive performance, with FBNH (+10.00%), UBA (+9.03%), GTCO (+9.55%), ACCESSCORP (+8.39%), and ZENITHBANK (+9.99%) all making substantial advancements.
The market’s resounding success reflects a buoyant investor sentiment, underscoring the confidence in the Nigerian Exchange and substantiating the robustness of its financial ecosystem.
