After a run of bearish performances in the NGX this week, the market has bounced back, with banking stocks leading the rally.
The banking sector led the gainers with a 7.82 per cent increase, fueled by buy interest in the top banks, such as Zenith Bank, Access Holdings, UBA, GTCO and Fidelity.
This is as Bullish trading resurfaced on the stock market yesterday (Thursday) leading to a gain of N902bn.
The banking sector led the gainers with a 7.82 per cent increase, fueled by buy interest in the top banks, such as Zenith Bank, Access Holdings, UBA, GTCO and Fidelity.
A similar trend was recorded on NASDAQ, Dow Jones Industrial Average and S&P 500 as stocks on the platforms posted their worst day of 2024 on Wednesday after the Federal Reserve decided to hold interest rates steady.
The domestic bourse All-Share Index and market capitalization rose by 1.63 per cent to close at 102,802.25 points and N56.26tn, respectively.
Market sentiment was positive leading to 53 gainers and 19 losers. Caverton (10 per cent), Chams (10 per cent), Guaranty Trust Holding Company Plc (10 per cent), VeristasKap and Nascon Allied Industries (9.98 per cent) were investors’ major toasts.
On the flip side, DEAPCAP (-9.88 per cent), Computer Warehouse Group (-9.87 per cent), and RT BRISCOE (-9.86 per cent) saw downward repricing.
Performance across the sectors indicated broad-based gains as the five sub-sector indices tracked closed in the green territory.
The banking sector led the gainers with a 7.82 per cent increase, fuelled by buy interest in the top banks, such as Zenith Bank, Access Holdings, UBA, GTCO and Fidelity.
The Consumer Goods sector followed suit with a substantial increase of 4.37 per cent, particularly driven by Dangote Sugar, Honeywell Flour Mill Cadbury and BUA Foods
The Insurance, Oil/Gas and Industrial indexes posted gains of 2.18 per cent, 0.02 per cent and 0.35 per cent, respectively.
Meanwhile, the total deals and value declined by 10.06 per cent and 45.96 per cent to 12,851 trades and N12.16bn, respectively.
The total traded volume for the day increased by 14.93 per cent to 861.01 million units.
At the end of the trading session, Universal Insurance was the most traded security in terms of volume with 113.76 million units changing hands in 110 deals, while Zenith Bank led in traded value at N2.76bn.
Market Indices
NGX All-Share Index: 102,805.25 points
% Day Change: +1.63%
Day’s Lowest: 100,573.39 points
Day’s Highest: 102,818.72 points
% YTD: +37.48%
Market Cap: N56.26 trillion
Volume Traded: 749.13 million units
Value Traded: N12.16 billion
Top Gainers
GTCO: +10.00% to close at N40.70
CHAMS: +10.00% to close at N2.64
CAVERTON: +10.00% to close at N1.87
VERiTASKAP: +10.00% to close at N0.66
NASCON: +9.98% to close at N67.75
ZENITHBANK: +9.97% to close at N38.60
Top Losers
DEAPCAP: -9.88% to close at N0.73
CWG: -9.87% to close at N6.85
RTBRISCOE: -9.86% to close at N0.64
UPL: -9.76% to close at N3.33
MCNICHOLS: -9.43% to close at N1.44
SUNUASSUR: -9.29% to close at N1.66
Top Traded Stocks
In terms of volume, UNIVINSURE (-7.69%) led with 113.76 million units, followed by TRANSCORP (+8.02%) followed by 91.02 million units, ZENITHBANK (+9.97%) with 74.32 million units, UBA (+9.84%) with 69.18 million units, and VERITASKAP (+10.00%) with 58.74 million units.
In terms of value, ZENITHBANK (+9.97%) led with N2.76 billion, followed by UBA (+9.84%) with N1.72 billion, GTCO (+10.00%) with N1.29 billion, TRANSCORP (+8.02%) with N1.56 billion, and ACCESSCORP (+9.91%) with N637.85 million.
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