Lilian Johnson
Sat, Aug 26, 2023 12:35 AM

Nigerian Stock Exchange Witnesses Impressive Upturn of N860 Billion in Market Value

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Nigerian Stock Exchange Witnesses Impressive Upturn of N860 Billion in Market Value
The Nigerian Stock Exchange (NSE) experienced a significant positive shift on Friday, with the market value of listed stocks increasing by N860 billion. The market capitalization concluded at N35.881 trillion, and the All-Share Index (ASI) gained 157.09 points. This improvement signifies a commendable upswing, reflecting the positive trajectory of the stock market.

The Nigerian Bourse witnessed a positive turn on Friday, as the bearish sentiment gave way to an impressive upswing, resulting in a noteworthy increase of N860 billion in the aggregate market value of listed stocks.

Consequently, the market capitalization concluded the trading day at N35.881 trillion, marking a 0.24% ascent from the preceding trading day's figure of N35.795 trillion.

This shift was mirrored in the All-Share Index (ASI), which saw a gain of 157.09 points, ultimately settling at 65,558.91 points.

This represented a commendable improvement of 0.24% in contrast to the previous day's closing value of 65,401.82 points.

Furthermore, the year-to-date return of the stock market also demonstrated a positive trajectory, climbing to 27.92%, thereby surpassing the previously recorded 27.61%.

Today's trading session showcased a strong sense of positivity, highlighted by the outstanding performance of SFSREIT, which secured its position as the leading gainer with an impressive 9.97% increase in share value. Conversely, PRESTIGE experienced the most significant decline, witnessing a sharp drop of 9.43% and concluding at a closing price of N0.48.

TRANSCORP shares dominated the day's trading session, boasting a trading volume of 76.72 million shares. Notably, DANGSUGAR accounted for the highest trading value of N773.93 million.

The number of deals within the investor's landscape decreased by 399, settling at a new total of 6,569.

Among the stocks that experienced value appreciation, SFSREIT, NASCON, and FTNCOCOA emerged as the leading performers, achieving impressive growth rates of 9.97%, 9.95%, and 9.94% respectively.

The exchange witnessed a substantial reduction in the total value of transactions, marking a significant decrease of 67.21% and culminating in a revised value of N4.23 billion at the conclusion of today's trading session.

Simultaneously, there was a marginal uptick of 2.21% in the volume of shares traded, which reached 356.02 million shares.

TRANSCORP emerged as the frontrunner in terms of trading activity, commanding a substantial volume of 76.72 million shares. Following closely, FIDELITYBK garnered notable attention, facilitating the exchange of 52.97 million shares while UNIVINSURE secured the third position in trading engagement, with a recorded volume of 17.84 million shares.

In terms of turnover, DANGSUGAR took the lead, contributing significantly to the market with a total turnover of N773.93 million. NASCON followed suit with transactions valuing N465.01 million while TRANSCORP also held prominence, recording a noteworthy trade value of N442.06 million.

Within the SWOOTs group, a glimmer of positivity was found solely in GTCO, where a slight increase of 0.1% was observed in its share price. ZENITHBANK experienced a 0.25% decrease in its earnings, marking a setback.

Source of content: OOO News 2023-08-25 News

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