NGX stocks record N420bn gain

The Nigerian Exchange market recorded gains on Thursday as investors’ stock gained N420 billion.

The development followed an increase in the All-Share Index, ASI, which rose by 743.66 points to a new high of 100,335.3 points.

The N420 billion stock market gain pushed the market capitalization to N56.73 trillion.

The outstanding performance was driven by MTN Nigeria and TRANSPOWER, which recorded significant increases in their share prices.

MTNN, DANGSUGAR and other firms in the pack are top gainers, with a 10 per cent growth.

Conversely, FTNCOCOA and GUINNESS declined by 10 per cent each, making them the worst performers among the 33 depreciated stocks.

The most traded stock of the day was TRANSCORP, which attracted a lot of attention in terms of volume and value.

The market activity improved as 9,708 deals were recorded daily, higher than the 9,338 deals reported in the previous session.

A further analysis of the SWOOT group showed mixed results, with MTN Nigeria and TRANSPOWER increasing their market values by 10 per cent and 9.9 per cent, respectively.

The banking sector in the SWOOT category suffered losses in their stock prices. At the same time, other SWOOT companies such as AIRTELAFRI, BUACEMENT, BUAFOODS, DANGCEM, GEREGU, SEPLAT, and TRANSCOHOT maintained their stock prices steady in the latest trading session. Despite the fluctuations in other stocks, they did not experience any change in their market position.

All the major banks recorded losses, FBN Holdings (4.38 per cent), Access Holdings (3.15 per cent), UBA (2.27 per cent), GTCO (1.57 per cent) and Zenith Bank (0.15 per cent), respectively, in their stock values.