NGX Hits New Milestones: All-Share Index Surpasses 71,000 Points and Market Cap Reaches N39 Trillion

In another stride of remarkable growth, the Nigerian Exchange Limited (NGX) achieved new milestones today, surpassing the 71,000-point mark in the All-Share Index. The market demonstrated positive momentum, gaining 0.25% to close at an impressive 71,014.34 points. This achievement follows closely on the heels of reaching the 70,000 mark just two weeks ago.

The market capitalization soared to an unprecedented N39.054 trillion, marking the first time it has crossed the N39 trillion threshold. Equities gained N113 billion, further underlining the robust performance of the Nigerian stock market.

Standout Performers

Mecure, in a continuation of its impressive run, gained 9.92% to close at N5.21, contributing to the overall positive sentiment in the market.

Oando Plc took the lead in driving the positive sentiment by appreciating by 10%. This surge follows the announcement of Oando's $800 million deal with Afreximbank, signaling positive developments for the company.

Market Activity Overview

Despite a slight decline in the number of deals to 6,172 compared to yesterday's 6,533, the trading volume saw a modest decrease of 9.2% to 297.354 million units from the previous day's 327.426 million units. However, the trading value experienced a substantial increase of 82.8% to N6.16 billion.

Market Indices

Today's trading session witnessed the following key market indices:

NGX All-Share Index: 71,014.34 points
% Day Change: +0.25%
Day’s Lowest: 70,836.50 points
Day’s Highest: 71,023.15 points
% YTD: +38.56%
Market Cap: N39.054 trillion
Volume Traded: 297.354 million
Value: N6.16 billion
Deals: 6,172

Top Gainers and Losers

Top Gainers:

OANDO: +10.00% to close at N11.55
OMATEK: +10.00% to close at N0.77
MECURE: +9.92% to close at N5.21
CILEASING: +9.87% to close N4.12
MEYER: +9.73% to close at N3.27

Top Losers:

SCOA: -9.68% to close at N1.12
SOVERNINS: -8.82% to close at N0.31
CORNERST: -4.83% to close at N1.38
CADBURY: -4.17% to close at N13.80
AIICO: -4.05% to close at N0.71

Top Traded Stocks

In terms of trading volume, OANDO (+10.00%) led the chart with 27.97 million units, followed by AIICO (-4.05%) with 23.04 million units, JAPAULGOLD (+2.70%) with 20.38 million units, TRANSCORP (-0.65%) with 14.53 million units, and CHIPLC (+0.96%) with 14.17 million units.

NESTLE led the trading chart with N2.34 billion, MTNN (+0.21%) followed with N496.4 million, GTCO (+1.93%) with N383.9 million, ZENITHBANK (-1.89%) with N353.1 million, and OANDO (+10.00%) with N315.3 million.

SWOOTs and FUGAZ Update

For stocks worth over one trillion, sentiments were mixed. GTCO (+1.93%), MTNN (+0.21%), and BUACEMENT (+1.96%) recorded price appreciations, while ZENITHBANK (-1.89%) recorded a price decline. AIRTELAFRI, BUAFOODS, DANGCEM, and SEPLAT recorded no price change.

For tier-1 banks, the sentiment was mostly mixed as GTCO (+1.93%) and ACCESSCORP (+0.29%) recorded price gains. FBNH (-0.25%), ZENITHBANK (-1.89%), and UBA (-0.48%) recorded price declines.

This update underscores the continuing positive trajectory of the NGX, signaling buoyancy in the Nigerian equities market.