The Nigerian Exchange Limited recorded an impressive gain on Thursday as the value of equities surged by 390 billion, reaching N54.71 trillion.
This positive performance in the market was primarily fueled by significant gains in the banking sector, with all tier 1 banks experiencing increases in their market worth.
The NSE experienced a modest upswing, reversing the previous bearish trend for the past trading days, with a gain of 714.28 points in the NGX All-Share Index, ASI, settling at 99,980.3 points.
Trading activity demonstrated improvement, with a total volume of 542.95 million shares traded, marking a notable increase of 146.72 million compared to the previous session’s volume of 396.23 million.
Moreover, the total trading value saw an uptick, with shares worth N8.697 billion changing hands, indicating a 49.28 per cent increase from the N5.83 billion recorded in the preceding session.
In trading activity, UBA led with a volume of 93.71 million units exchanged, closely followed by TRANSCORP with 54.08 million units, JAPAULGOLD with 34.34 million units, STERLING with 28.49 million units, and FIDELITYBK with 27.09 million units.
UBA topped the charts regarding transaction value, recording transactions worth N2.07 billion. NESTLE secured the second position with N1.07 billion, followed by Zenith Bank with N768.15 million, TRANSCORP with N692.19 million, and ACCESSCORP with N489.37 million.
Meanwhile, FBN Holdings has re-entered the SWOOT category, showing a slight 1.27 per cent uptick in its market value, while GTCO and Zenith Bank also experienced gains in their share prices. Conversely, stability persists among AIRTELAFRI, MTNN, BUACEMENT, BUAFOODS, DANGCEM, GEREGU, SEPLAT, and TRANSCOHOT.
In the top-tier banking segments, UBA and GTCO saw significant 10 per cent market value increases. Access Holding, Zenith Bank, and FBN Holdings recorded 9.74 per cent, 7.86 per cent, and 1.27 per cent, respectively, in their market worth.
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