Investors Gain N1.93trn in 2 days in The Stock Market Sector

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Things are looking bright and beautiful in the Nigerian stock market sector as it has continued to surge in an impressive momentum, with investors gaining over N1.57 trillion from their investment; making it an appreciation of total capital to the tune of over N1.93 trillion in two trading days of the week; following the N364 billion which investors gained on Monday.

Accordingly, the Nigerian Exchange Limited, NGX, market capitalisation, which represents the total value of stocks on the Exchange, surged high to a tune of N45.523 trillion at the close of trading on Tuesday from Friday’s N43.593 trillion.

The impressive market surge was spured by renewed interest in Dangote Cement which gained 3.7% and MTN Nigeria which gained 3.5% to drive up the benchmark index (NGX All Share Index, ASI) by 3.6%, making it the highest point since 30th June 2023. As a result, the NGX ASI concluded the trading session at 83,191.84 points, and as expected, the Year-to-Date return increased to 11.3%.

A deeper analysis showed that the total volume traded advanced by 18.5% to 1.41 billion units that is valued at N24.68 billion, and exchanged in 17,144 deals. Fidelity Bank had the most traded stock by volume at 141.75 million units, while UBA had the least traded stock by value at N3.78 billion.

On sectoral indices, the Banking Index surged to 8.2%, Insurance Index surged to 6.4%, Consumer Goods Index surged to 4.0%, and Industrial Goods Index surged to 2.5% while the Oil & Gas Index declined by 2.4%.

 

 

 

 

 

 

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