First Bank Leads Gainers: NGX ASI Up by 0.17%

The market witnessed a surge in positive sentiment today, primarily propelled by the robust performance of banking stocks, with FBNH leading the gainers chart with a notable 10.00% appreciation.

Despite a decline in market capitalization by N132 billion, closing at N39.04 billion, the All-Share Index managed to appreciate by 0.17%, concluding the trading session at 71,353.81 points. Trading volume experienced an uptick, reaching 746.67 million units compared to last Friday’s 582.77 million units, accompanied by a corresponding increase in trade value to N5.945 billion from N4.27 billion last week.

Market Indices Overview:
– NGX All-Share Index: 71,353.81 points
– % Day Change: +0.17%
– Day’s Lowest: 70,810.51 points
– Day’s Highest: 71,566.58 points
– % YTD: +39.22%
– Market Cap: N39.04 trillion
– Volume Traded: 746.67 million
– Value: N5.95 billion
– Deals: 9,267

Top Gainers:
1. JOHNHOLT: +10.00% to close at N1.87
2. FBNH: +10.00% to close at N22.00
3. TANTALIZER: +10.00% to close at N0.55
4. MULTIVERSE: +9.98% to close at N6.39
5. SUNUASSUR: +9.73% to close at N1.24

Top Losers:
1. ETRANZACT: -9.46% to close at N6.70
2. UNITYBNK: -9.24% to close at N1.67
3. Omatek: -9.09% to close at N0.90
4. RTBRISCOE: -8.96% to close at N0.61
5. GUINEAINS: -5.88% to close at N0.32

Top Traded Stocks:
In terms of volume traded, UNIVINSURE (+3.57%) led with 168.098 million units, followed by ACCESSCORP (+4.32%) with 81.5 million units, UNITYBNK (-9.24%) with 67.7 million units, VERITASKAP (+5.41%) with 45.9 million units, and TRANSCORP (+4.50%) with 44.5 million units. In terms of value, ACCESSCORP (+4.32%) led with N1.47 billion, followed by UBA (+1.44%) with N646.2 million, ZENITHBANK (+1.73%) with N453.4 million, FIDELITYBK (-1.11%) with N394.1 million, and MTNN (0.00) with N328.8 million.

SWOOTs and FUGAZ Update:
Trading for stocks valued over one trillion remained relatively flat, with BUAFOODS (-1.92%) and GTCO (-0.39%) experiencing a price decline, while ZENITHBANK (+1.73%) recorded a price gain. BUACEMENT, AIRTELAFRI, MTNN, SEPLAT, and DANGCEM reported no price changes.

Tier-1 banks, following the announcement of a possible recapitalization exercise, also reflected positive sentiments in the market. ZENITHBANK (+1.73%), UBA (+1.44%), ACCESSCORP (+4.32%), and FBNH (+10.00%) all recorded price gains, while GTCO (-0.39%) was the only one to record a price decline.

In summary, the market displayed resilience with increased trading activity and positive movements, particularly in the banking sector, contributing to the overall positive sentiment.