Nancy Smith
Fri, Aug 25, 2023 11:25 PM

NSE Witnesses Positive Turn as Market Capitalization Rises by N86 Billion

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NSE Witnesses Positive Turn as Market Capitalization Rises by N86 Billion
The Nigerian Stock Exchange (NSE) experienced a positive shift in sentiment as market capitalization rose by N86 billion. The market capitalization reached N35.881 trillion, marking a 0.24% increase from the previous day. The All-Share Index (ASI) also saw a gain of 157.09 points, settling at 65,558.91 points. This article provides an overview of the market's performance, top gainers and decliners, trading activity, and notable stocks.

The Nigerian Bourse (NSE) witnessed a positive turn on Friday, as the bearish sentiment gave way to an impressive upswing, resulting in a noteworthy increase of N86 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%.

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

SFSREIT (+9.97%)PRESTIGE (-9.43%)
NASCON (+9.95%)
FTNCOCOA (+9.94%)

The market exhibited 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.

In terms of trading activity, TRANSCORP shares took the forefront by dominating the day's trading session, boasting a trading volume of 76.72 million shares. Notably, DANGSUGAR took center stage in terms of trading value, with its stock accounting 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 compared to the previous day's closing count of 6,968.

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% correspondingly to conclude the trading session on a positive note with closing prices of N83.80, N44.75, N40.70, and N1.99 per share.

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, compared to the previous day's closing figure of 348.32 million shares traded.

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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