Stock market surges to highest level in one month as investors await FPIs

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The Nigerian stock market, the NGX appreciated to its highest level in nearly a month as investors positioned for the much-anticipated return of FPIs.

The All-Share Index appreciated by 1.45%, representing a 1,479.60-point gain from yesterday’s 102,044.84 to close at 103,524.44 points, the highest ASI since the 105,722.28 points reached on February 16.

Equities gained N837 billion as the market capitalization surged to N58.534 trillion from yesterday’s N57.697 trillion. Leading the gainers was UBA, which gained 10.00%, followed by MTN Nigeria at 9.98%, and Access Holdings which gained 9.51%.

In terms of trading volume, there was a 29.5% uptick as 565.79 million units of shares were traded, in contrast with 436.90 million units traded yesterday.

In terms of market capitalization, there was a 16.8% decline as N14.2 billion worth of shares were traded as against N17.1 billion reported a day earlier.

Market Indices

NGX All-Share Index: 103,524.44 points
% Day Change: +1.45%
Day’s Lowest: 102,044.84 points
Day’s Highest: 103,524.44 points
% YTD: +38.45%
Market Cap: N58.53 trillion
Volume Traded: 565.8 million units
Value Traded: N14.2 billion

Top Gainers

UBA: +10.00% to close at N25.30
MTNN: +9.98% to close at N243.50
JBERGER: +9.71% to close at N61.00
ACCESSCORP: +9.51% to close at N22.45
VERITASKAP: +9.38% to close at N0.70
UNIVINSURE: +8.33% to close at N0.39

Top Losers

TANTALIZERS: -7.89% to close at N0.35
NASCON: -6.77% to close N53.70
MORISON: -6.62% to close at N1.41
CILEASING: -6.45% to close at N3.48
CUTIX: -6.30% to close at N2.53
ELLAHLAKES: -5.78% to close at N3.10

Top Traded Stocks

TRANSCORP (-4.49%) led in terms of volume traded, with 170.72 million units, followed by ACCESSCORP (+9.51%) with 48.57 million units, GTCO (+2.63%) with 39.03 million units, JAIZBANK (-4.52%) with 36.78 million units, and UBA (+10.00%) with 31.96 million units.

Concerning value traded, TRANSPOWER (+2.44%) led with N3.51 billion, followed by TRANSCORP (-4.49%) with N3.13 billion, GTCO (+2.63%) with N1.66 billion, ACCESSCORP (+9.51%) with N1.06 billion, UBA (+10.00%) with N796.24 million.

SWOOT and FUGAZ Update

Trading sentiment was positive for stocks worth over one trillion, as MTNN (+9.98%), ZENITHBANK (+5.52%), GTCO (+2.63%), TRANSPOWER (+2.44%), and FBNH (+6.25%) recorded gains. However, AIRTELAFRI, BUACEMENT, BUAFOODS, DANGCEM, GEREGU, SEPLAT, and TRANSCOHOT did not record any price changes.  

Tier-1 banks also recorded a positive trading sentiment, as ACCESSCORP (+9.51%) and UBA (+10.00%) recorded substantial price gains, alongside FBNH, ZENITHBANK, and GTCO.