Stock market closes higher, ASI advances by 0.78%

Date:

December 7, 2023.

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Azonuchechi Chukwu.

The NGX posted a very impressive one day return as the All-Share Index appreciated by 0.78% to close at 71,808.64 points.

Equities gained N472 billion as the market capitalization closed at N39.295 billion. A significant event in the market was FBN Holdings gaining 9.91% to close at N29.40, thus inducting the bank into the N1 trillion market cap club, as its market cap crossed into N1.055 trillion.

There was a 59.15% surge in trading volume to 690.011 million units, compared to yesterday’s 433.568 million units. There was a surge in trading value to N12.1 billion against yesterday’s N11.1 billion.

Market Indices

Here are the market Indices for today’s trading session

NGX All-Share Index: 71,808.64 points

% Day Change: +0.78%

Day’s Lowest: 71,242.31 points

Day’s Highest: 71,866.37 points

% YTD: +40.11%

Market Cap: N39.29 trillion

Volume Traded: 690.01 million

Value: N12.1 billion

Deals: 8,412

Top Gainers

THOMASWY: +9.92% to close at N3.32

FBNH: +9.91% to close at N29.40

MULTIVERSE: +9.90% to close at N0.70

ETI: +9.88% to close at N18.90

INFINITY: +9.70% to close at N1.47

Top Losers

MANSARD: -9.69% to close at N4.10

GUINEAINS: -9.68% to close at N0.28

OANDO: -9.13% to close at N10.45

OMATEK: -8.14% to close at N0.79

UNIVINSURE: -7.41% to close at N0.25

Top Traded Stocks

In terms of volume, GTCO (+0.51%) led with 76.70 million units, followed by UBA (+3.29%) with 74.57 million units, FIDELITYBK (+2.81%) with 65.63 million units, ACCESSCORP (+9.04%) with 64.18 million units, and UNIVINSURE (-7.41%) to close at 47.13 million units.

Concerning value, GTCO (+0.51%) also led with N 3.04 billion, followed by UBA (+3.29%) with N1.66 billion, ZENITHBANK (+3.44%) with N1.37 billion, ACCESSCORP (+9.04%) with N1.34 billion, and MTNN (+0.25%) with N938.9 million.

SWOOT and FUGAZ Update

There was a new entrant into the SWOOT category as FBNH closed with a market cap of N1.055 trillion. For other members of the category, trading was bullish as ZENITHBANK (+3.44%), GTCO (+0.51%), and MTNN (+0.25%) all recorded price gains.

Other members of the category (AIRTELAFRI, BUAFOODS, BUACEMENT, DANGCEM, and SEPLAT) all recorded no price changes.

Trading was also bullish for tier-1 banks as FBNH and ACCESSCORP recorded above 9% gains, posting 9.91% and 9.04% gains respectively. ZENITHBANK (+3.44%), GTCO (+0.51%), and UBA (+3.29%) also recorded gains.(www.naija247news.com).

Azonuchechi Chukwu
Azonuchechi Chukwuhttps://gravatar.com/azonuchechivchukwu
Azonuchechi Chukwu - Business Journalist at Naija247news.com Azonuchechi Chukwu is a seasoned business journalist contributing to the insightful coverage of economic and financial news at Naija247news.com. With a passion for unraveling the complexities of the business world, Azonuchechi brings a wealth of expertise and dedication to his role. As a Business Journalist, Azonuchechi specializes in providing comprehensive analyses of market trends, corporate developments, and economic indicators. His in-depth reports offer Naija247news.com readers a nuanced understanding of the forces shaping the Nigerian and global business landscapes. Azonuchechi Chukwu's commitment to journalistic excellence is evident in his ability to translate complex financial information into accessible and engaging narratives. Whether exploring stock market fluctuations, corporate strategies, or economic policies, he strives to deliver content that empowers readers with valuable insights. With an educational background in business and a keen interest in the intersection of finance and technology, Azonuchechi stays at the forefront of industry dynamics. His coverage extends beyond traditional financial reporting, encompassing the dynamic realms of fintech, entrepreneurship, and sustainable business practices. Azonuchechi Chukwu's work goes beyond the surface, aiming to foster financial literacy and awareness among Naija247news.com's audience. By demystifying economic complexities and shedding light on emerging opportunities, he plays a pivotal role in keeping readers well-informed in the fast-paced world of business. As Naija247news.com's Business Journalist, Azonuchechi Chukwu continues to make meaningful contributions to the platform's mission of delivering timely, accurate, and relevant business news to its diverse audience. His dedication to journalistic integrity and his ability to navigate the intricacies of the business realm make him an invaluable asset to the Naija247news.com team.

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