Bullish surge boosts Market Capitalization by N157 billion

The Nigerian Stock Exchange (NSE) maintained its upward trajectory, building on last week’s momentum.

The market capitalization witnessed a significant surge, adding N157 billion to reach a total of N35.842 trillion. This marked a positive shift from the previous closing value of N35.685 trillion.

The significant rise in market value can be attributed to the prevailing positive outlook that dominated today’s trading session.

As a result, the All-Share Index (ASI) was up by 0.44%, affirming a bullish trajectory in market performance. The Index managed to tack on 286.26 points, reaching an impressive 65,488.67 points, clearly surpassing the previous day’s closing mark of 65,202.41 points.

Furthermore, the Year-to-Date (YtD) return for the stock market experienced a noteworthy uptick, now resting at 27.78%. This upswing shows a commendable improvement from its earlier closing position of 27.22%, underscoring the market’s consistent growth and potential.

Market Indices

Below are the market indices for today’s trading session:

NGX ASI: 65,488.67 points

% Day Change: +0.44%

% YTD: +27.78%

Market Cap: N35.842 trillion

Volume Traded: 293.46 million

Value: N4.12 billion

Deals: 5,895

How Stocks Performed

Today’s market exhibited a captivating narrative, highlighted by CORNERST remarkable performance as it soared by an impressive 9.84%, closing at an impressive N1.34 per share.

On the flip side, CHELLARAM fortunes took a different turn, experiencing the steepest decline, with a significant downturn of 10%.

TRANSCORP and ACCESSCORP stocks took the spotlight in today’s trading, grabbing attention both in terms of trading volume and transaction value respectively. TRANSCORP recorded an impressive trading volume of 41.44 million shares, while ACCESSCORP led the value charts with transactions totaling N616.42 million

Furthermore, investor activity saw a decline with the total number of deals reaching 5,494, a decrease of 399 deals compared to the previous count of 5,893.

Top Gainers and Losers
Leading the pack in today’s trading session were CORNERST, CWG, and SCOA, exhibiting impressive growth in their share prices, surging by 9.84%, 9.74%, and 9.38% respectively.

These gains propelled their closing prices to N1.34, N4.28, and N1.40 per share, concluding the session on a highly positive note.

On the flip side, the day’s laggards consisted of CHELLARAM, SUNUASSUR, and NB, as they encountered substantial declines in share prices, each dropping by a notable 10%.