NGX Resilience: Bulls Defy Selloffs, ASI Gains 0.07%

Infostride News reported a bustling trading day on the Nigerian Exchange Group (NGX), marked by a substantial volume of trades. Despite the high activity, the market maintained its bullish trajectory, witnessing a 0.07% increase in the All-Share Index, reaching 70,819.49 points.

The equities market experienced a notable gain of 27.2 billion Naira, propelling the market capitalization to N38.912 billion. Notably, 25 stocks saw price appreciation, while 24 recorded declines in today’s trading session.

The number of deals executed witnessed a decrease, totaling 6,169 deals compared to the previous day’s 6,401. However, there was a significant surge in trading volume, reaching 569.195 million units, up from the previous day’s 558.345 million units. The trading value also experienced a substantial increase, soaring to N16.791 billion, as opposed to yesterday’s N9.79 billion.

 Market Indices

Here are the key market indices reflecting today’s trading session:

– **NGX All-Share Index:** 70,819.49 points
– **% Day Change:** +0.07%
– **Day’s Lowest:** 70,645.15 points
– **Day’s Highest:** 70,888.97 points
– **% YTD:** +38.18%
– **Market Cap:** N38.91 trillion
– **Volume Traded:** 569.195 million
– **Value:** N16.79 billion
– **Deals:** 6,169

 Top Gainers

Several stocks showed remarkable gains:

– **UPDC:** +9.91% to close at N1.22
– **MECURE:** +9.85% to close at N3.57
– **SCOA:** +9.73% to close at N1.24
– **JAPAULGOLD:** +9.58% to close at N1.83
– **UACN:** +8.47% to close at N16.00

Top Losers

On the flip side, some stocks experienced declines:

– **VFDGROUP:** -10.00% to close at N184.50
– **MULTIVERSE:** -9.37% to close at N2.90
– **TIP:** -9.35% to close at N0.97
– **REGALINS:** -8.57% to close at N0.32
– **DAARCOMM:** -8.33% to close at N0.22

Top Traded Stocks

In terms of volume, JAPAULGOLD (+9.58%) led the chart with 113.964 million units, followed by STANBIC (-0.07%) with 96.92 million units, UBA (+0.24%) with 75.22 million units, FBNH (+3.36%) with 42.64 million units, and FIDELITYBK with 34.70 million units.

Concerning value, STANBIC took the lead with N6.78 billion worth of shares traded, followed by AIRTELAFRI with N3.16 billion, UBA with N1.55 billion, NESTLE with N1.05 billion, and FBNH with N849.8 million worth of shares.

SWOOT and FUGAZ Update

There was a notable trading activity on stocks worth over one trillion Naira. However, only GTCO (+0.56%) and ZENITHBANK (-0.45%) recorded price changes.

All tier-1 banks experienced price activity, with FBNH (+3.36%), GTCO (+0.56%), UBA (+0.24%) recording gains, while ACCESSCORP (-0.29%) and ZENITHBANK (-0.45%) registered declines in their stock prices.

The NGX, as reported by Infostride News, continues to be a dynamic and active market, showcasing both positive and negative movements in stock prices across various sectors. Investors remain vigilant as the market demonstrates resilience and reacts to the evolving economic landscape.