NGX ASI Hits 100,057.49, Up 0.67%, as MTN Nigeria Shares Rise 7%

The All-Share Index (ASI) of the Nigerian Exchange has crossed the 100,000 mark for the first time since April 16, 2024.

The NGX gained 0.67% today, as the ASI closed at 100,057.49, marking a 661.26-point increase from yesterday’s 99,396.23 points. Equities gained N372 billion as the market capitalization closed at N56.602 trillion, up from the previous N56.228 trillion.

The market’s performance was driven by a 7% gain recorded by MTN Nigeria, whose share price appreciated by N14 to close at N214.

There was a slight 3.6% decline in the market’s turnover volume to 509.705 million shares, from yesterday’s 528.703 million shares. In terms of turnover value, there was a 5.8% decline to N9.885 billion, from yesterday’s N10.491 billion.

Market breadth was positive, as there were 34 gainers in contrast with 12 losers.

The NGX gained 0.32% this week, marking a significant improvement from the 0.18% decline recorded last week. In June, the NGX posted a 0.76% gain, as it started the month with an ASI of 99,300.38.

Market Highlights

Top gainers – Gainers in the market were led by United Capital and Lasaco Assurance, which both posted 9.96% and 9.91% gains respectively.

This week, United Capital has gained 21.84%, making it one of the best gainers in the NGX.

Other gainers during the day were CWG Plc with 9.66%, Ikeja Hotel with an 8.97% gain, and Mutual Benefits Assurance with an 8.06% gain.

Major gains were also posted by top-tier banking stocks, as FBN Holdings posted a 2.82% gain, GTCO posted a 1.01% gain, UBA posted a 0.22% gain, and Zenith posted a 0.56% gain.

Top losers – The top losers in the market were led by Jaiz Bank which declined by 9.72%, while Caverton Offshore declined by 7.80%.

Regency Assurance declined by 6.98%, Champion Breweries declined by 6.67% and NASCON declined by 6.25%.

Among the losers, Guinness Nigeria was a high-profile loser, with a 4.29% decline.

Volume and Value Traded – The top traded stock in terms of volume was Transnational Corporation (Transcorp) which posted a 4.00% as well as a market turnover volume of 125.403 million shares.

Oando Plc gained 4.53%, recording a turnover volume of 58.313 million shares. Guinness Nigeria Plc reported a turnover volume of 42.977 million shares, AIICO Insurance saw a turnover volume of 27.014 million shares, and United Capital posted a turnover volume of 24.974 million shares.

In terms of turnover value, Guinness Nigeria was the leading stock with a turnover value of N2.88 billion.

Transcorp posted a turnover value of N1.62 billion, while Oando Plc posted a turnover value of N877.97 million.

MTN Nigeria posted a turnover value of N869.1 million and United Capital posted a turnover value of N661.8 million.

SWOOTs and FUGAZ Update

Stocks worth over one trillion recorded a positive sentiment, as MTN Nigeria, GTCO Holdings, and Zenith Bank posted a 7%, 1.01%, and 0.56% gain respectively.

Other members of the SWOOT category, such as Airtel Africa, BUA Cement, BUA Foods, Dangote Cement, Seplat Energy, Transcorp Power, Transcorp Hotels, and Geregu Power posted no price changes.

All the top-tier banking stocks, except Access Holdings, posted gains. Access Holdings posted a 0.26% decline