Stock market defies Niger Coup crisis, opens week with N76 billion gain (

Stock market defies Niger Coup crisis, opens week with N76 billion gain


The NGX opened the week with a bullish trajectory as it added N76 billion to its market value, reflecting a rise of 0.21%. 

This is as the country awaits the decisions of Ecowas leaders on possible military intervention in the Niger Republic.

This follows the expiration of the deadline given to the military junta to reverse the coup.  

The All-share Index (ASI) added 138.63 points to close at 65,336.71 points, while the market capitalization added N76 billion to settle at N35,555 trillion. These figures represent a notable increase from the 65,198.06 points and N35,479 trillion recorded last week Friday. 


Market Indices  

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

NGX ASI: 65,336.71 points  

% Day Change: +0.21%  

% YTD: +27.48%  

Market Cap: N35,555t trillion  

Volume Traded: 334.33 million  

Value: N3.89 billion  

Deals: 6,950 


How Stocks Performed 

ENAMELWA topped the gainers list with a 9.86% increase in its share price, closing at N19.50 per share while OMATEK was the worst performer, with an 8.82% decrease in its share price to close at N0.31 per share. 

STERLINGNG recorded the most traded stock by volume today, exchanging 55.14 million units in shares however ACCESSCORP recorded the highest value of transactions, as its shares attracted a large sum of money. 

Trading activity in the market increased by 296 deals from last week, as total number of deals on the exchange rise from 6,644 to 6,940 deals on Monday 






ENAMELWA, WEMABANK, and UPL were the top gainers for today, having recorded an impressive appreciation of 9.86%, 9.77%, and 9.73% in their share price to end the session at N19.50, N4.72, and N2.48 per share, respectively. Conversely, OMATEK, PRESTIGE and MCNICHOLS faced the steepest declines of the day with, posting losses of 8.82%, 7.84%, and 7.35% respectively. 


Top Traded Stocks  

Trading activity in the market suffered from last week’s closing day, buoyed by a notable 35.91% decline in the total value of shares traded from N6.07 billion to N3.89 billion. 

volume of shares traded also fell by 7.94% to 334.33 million, from the 363.18 million shares traded on the exchange last week. 

The top three stocks by volume were STERLINGNG, FCMB and FIDELITYBK. STERLINGNG had the highest volume of 55.14 million shares, followed by FCMB with 28.24 million shares, and FIDELITYBK with 18.84 million shares. 

More Investor interest was recorded in STERLINGNG, as STERLINGNG became the most active stock in the market, with a total turnover of N197.26 million. FCMB came in second, with a trade value of N173.84 million and FIDELITYBK in third with a trade value of 150.84 billion. 


SWOOTs Watch 

The trading day ended with a positive outcome for the SWOOTs group, as they saw their earnings rise significantly. MTN NIGERIA, BUA FOODS, GTCO led the gainers with 3%, 1%, 0.6% increase in their market values respectively, while UBA and ZENITH BANK also recorded a marginal growth of 0.1% each. 

There was no movement in the stock prices of AIRTEL AFRICA, DANGOTE CEMENT, and BUA CEMENT in the most recent trading session. These firms held their market rankings despite the volatility of other stocks. 


FUGAZ Update 

Among the five leading banks, GTCO had the highest earnings growth of 0.6%. ACCESSHOLDINGS followed with a 0.2% increase in earnings. ZENITH BANK and UBA also improved their earnings by 0.1% each. FBNH was the only one to suffer a loss of 0.3% in its stock price. 


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