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Reading: Nigerian Exchange records highest gain in six months
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Nigeria

Nigerian Exchange records highest gain in six months

The Nigerian Exchange Limited has witnessed its highest single-day gain since June 13, 2023, as the All-Share Index rose by 3.57 per cent, a...

Chima Joseph Ugo
Chima Joseph Ugo - Editor-in-chief January 09, 2024
Updated January 9, 2024 at 9:29 PM
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Nigerian Exchange records highest gain in six months
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Nigerian Exchange records highest gain in six months

The Nigerian Exchange Limited has witnessed its highest single-day gain since June 13, 2023, as the All-Share Index rose by 3.57 per cent, adding 2,867.31 points to 83,191.84 points.

The achievement comes a day after Monday’s All-Share Index crossed the 80,000 mark.

Equities added about N1.567 trillion as the market capitalisation increased by 3.57 per cent to N45.524 trillion from yesterday’s N43.957 trillion.

Some of the major gainers in the market were FBN Holdings (First Bank), which increased by about 10 per cent to return to the SWOOT category. Consumer goods firms Unilever and Cadbury also increased by about 10 per cent each.

In terms of trading volume, there was an 18.5 per cent rise to 1.41 billion units compared to yesterday’s 1.19 billion units. Also, there was a remarkable 61.7 per cent rise to N24.68 billion in trading value from yesterday’s N15.26 billion.

Further analysis showed that the top gainers were FBNH, +10.00 per cent to close at N28.60 per cent, CADBURY, +10.00 per cent to close at N18.15, UNILEVER, +10.00 per cent to close at N18.15, FTNCOCOA: +10.00 per cent to close at N2.20, MBENEFIT, +10.00 per cent to close at N0.77 and GUINEAINS: +10.00 per cent to close at N0.44.

On the other hand, the top losers were TOTAL, -10.00 per cent to close at N346.50; DAARCOMM, -9.40 per cent to close at N1.06; RTBRISCOE, -8.45 per cent to close at N0.65; SUNUASSUR, -7.69 per cent to close at N1.20, PRESTIGE: -7.41 per cent to close at N0.50, THOMASWY: -6.37 per cent to close at N2.50.

Regarding the top traded stocks in terms of volume, FIDELITYBK (+4.49 per cent) led with about 141.75 million units, followed by FCMB (+9.86 per cent) with 128.97 million units, UBA (+9.03 per cent) with 117.71 million units, TRANSCORP (+2.81 per cent) with 108.34 million units, and ACCESSCORP (+8.39 per cent) with 85.08 million units.

Concerning value, UBA (+9.03%) topped with N3.78 billion, followed by ACCESSCORP (+8.39%) with N2.53 billion, GTCO (+9.55%) with N2.14 billion, ZENITHBANK (+9.99%) with N2.12 billion, and FIDELITYBK (+4.49%) with N1.97 billion.

There was a very positive trading sentiment for stocks worth over N1 trillion as almost all of the members of the SWOOT category recorded impressive gains.

GTCO (+9.55 per cent), ZENITH BANK (+9.99 per cent), UBA (+9.03 per cent), BUAFOODS (+5.59 per cent), MTN (+3.51 per cent), and DANGCEM (+3.72 per cent) all recorded gains, while BUACEMENT, AIRTELAFRI, and SEPLAT recorded no price changes.

Similarly, FBNH gained 10 per cent, surpassing the N1 trillion market capitalisation level.

Tier-1 banks drove the market’s positive performance, as they all recorded impressive gains: FBNH (+10.00 per cent), UBA (+9.03 per cent), GTCO (+9.55 per cent), ACCESSCORP (+8.39 per cent), and ZENITHBANK (+9.99 per cent).

Tags: Nigeria

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