Record-Breaking Rally as NGX ASI climbs over 100,000-points amidst bullish frenzy

Record-Breaking Rally as NGX ASI climbs over 100,000-points amidst bullish frenz

The market recorded a significant increase in the All-Share Index, which crossed the 100,000-point mark and settled at 101,571.11 points, an increase of 2954.14 points.

Investors’ optimism boosted the equities market, adding N1.62 trillion to the market capitalization, which closed at N55.58 trillion. The year-to-date return rose from 31.89% to 35.84%.

The share prices of the SWOOT group companies showed mixed results in the earnings report. The cement giants, BUACEMENT and DANGCEM, increased their market values by 9.98% and 6.49%, respectively, followed by BUAFOODS, ZENITHBANK, and GTCO with gains of 5.59%, 0.48%, and 0.47%, respectively.

On the contrary, ACCESSHOLDINGS and UBA experienced declines of 1.22% and 0.33%, respectively, in their share prices. The report also noted that the share prices of AIRTELAFRICA, MTNN, GEREGU, SEPLAT, and TRANSCOHOT remained stable despite the market volatility.

Among the top five banks in the country, only ZENITHBANK and GTCO recorded gains of 0.48% and 0.47%, respectively, while the rest of them saw their market values drop by 1.22%, 0.78%, and 0.33%, respectively, for ACCESSHOLDINGS, FBNH, and UBA.