The Nigerian Exchange (NGX) continued its upward trend for the fifth consecutive day, with the All-Share Index (ASI) rising by 0.26% to end at 99,448.91 points. The total value of all stocks also increased by N156.91 billion, reaching N60.26 trillion.
The number of shares traded went up by 14.96% to 460.85 million shares, but the total value of these trades dropped by 39.38% to N9.52 billion. This shows that investors are being careful even though more shares are being bought and sold.
The biggest winners were CAP, LIVESTOCK, EUNISELL, MAYBAKER, and ROYALEX, with their stock prices increasing between 9.23% and 10%. On the other hand, DAAR COMM, MCNICHOLS, FTN COCOA, FIDELITYBNK, and CHAMS saw their stock prices fall.
UBA had the highest trading value, with N2.60 billion worth of shares traded, followed by ARADEL, ZENITHBANK, ACCESSCORP, and CAP. CHAMS had the most shares traded, with 97.66 million shares changing hands.
The SWOOT group, which includes DANGOTE CEMENT, AIRTEL AFRICA, BUA CEMENT, BUA FOODS, SEPLAT, GEREGU, OANDO, TRANSCORP POWER, and TRANSCOHOT, stayed fairly steady. UBA joined this group, crossing the one trillion naira mark.
In the FUGAZ group, there were mixed results. UBA saw a 3.79% increase, while ACCESSCORP, FBN Holdings, ZENITHBANK, and GTCO recorded decline.
The market ended positively, even though trading value went down, showing continued investor confidence. UBA joining the SWOOT group highlights this positive trend.
