Business News

NGX ASI slowly nears 71,000 mark as market appreciates by 0.23% 

The NGX All-Share Index further appreciated today, closing at 70,773.31 points, as the market inches closer to the 71,000 mark.  

Investors gained N87 billion today as the market capitalization increased to N38.885 trillion. Market gain is attributable to price increases on big stocks such as BUACEMENT (+1.90%), UBA (+1.47%) FBNH (+0.52%), and WAPCO (+1.38%).  

There was a decline in the number of deals to 6,401, down from yesterday’s 7,100 deals.

There was a 24.3% appreciation in trading volume to 558.345 million units from yesterday’s 449.283 million units. In terms of trading value, there was also an appreciation of N9.79 billion, up from yesterday’s N7.71 billion.  

Here are the market Indices for today’s trading session 

In terms of volume, FBNH (+0.52%) led for the second day in a row with 209.9 million units, followed by UBA (+1.47%) with 53.72 million units, UNIVINSURE (+4.35%) with 43.69 million units, FIDELITYBK (-0.30%) with 22.25 million units, and UNITYBNK (-7.00%) with 18.03 million units.  

In terms of trading value, FBNH also led as N4.04 billion worth of shares were traded, followed by AIRTELAFRI with N2.35 billion, UBA with N1.10 billion, GTCO (+0.28%) with N383.11 million worth of shares, and FIDELITYBK with N203.73 million worth of shares.  

For stocks worth over one trillion, it was a relatively quiet trading day as BUACEMENT (+1.90%) and GTCO (+0.28%) recorded price increases, while ZENITHBANK (-0.30%) recorded a price decline. MTNN, SEPLAT, DANGCEM, BUAFOOD, and AIRTELAFRI recorded zero price changes 

Tier-1 banks saw mostly favourable trading activity. FBNH, UBA, GTCO, and ACCESSCORP experienced a rise in prices, while ZENITHBANK was the only one to witness a slight decrease of 0.30% in its stock price.