Nigeria Stock Market Rebounds by 1.63%, Investors Gain N902bn


February 2, 2024.

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Azonuchechi Chukwu.

The equity market on Thursday rebounded with banking stocks leading the rally.

The All-Share Index appreciated by 1.63%, gaining 1,647.79 to close at 102,802.25 points, from yesterday’s 101,154.46 points.

The market breadth was positive on Thursday, as there were 53 gainers against 18 losers. And the bullish rally was led by the banking stocks as GTCO, Zenith Bank, and Access Bank gained 10%, 9.97%, and 9.91% respectively.

Equities gained N902 billion as the market cap appreciated to N56.260, up from N55.358 trillion recorded yesterday.

In terms of trading volume, there was a 14.9% increase to 861.01 million units, from yesterday’s 749.13 million units. Concerning value, there was a 45.9% decline to N12.16 billion, from yesterday’s N22.49 billion.

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.

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.

SWOOT and FUGAZ Update

Trading sentiment was very positive for stocks worth over N1 trillion, as GTCO (+10.00%), ZENITHBANK (+9.97%), and BUAFOODS (+4.86%) recorded price gains, while MTNN (-2.14% recorded a price drop.

Other SWOOT stocks, AIRTELAFRI, BUACEMENT, DANGCEM, SEPLAT, and GEEREGU recorded no price changes.

For the tier-1 banks, UBA (+9.84%), FBNH (+9.91%), and ACCESSCORP (+9.91%) recorded phenomenal gains. (

Azonuchechi Chukwu
Azonuchechi Chukwu
Azonuchechi Chukwu - Business Journalist at Azonuchechi Chukwu is a seasoned business journalist contributing to the insightful coverage of economic and financial news at 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 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'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'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 team.

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