The Nigerian Stock Exchange (NGX) witnessed a robust trading session on Friday, October 18, 2024, with a total of 358,845,699 shares exchanged in 6,719 deals, translating to a market value of NGN 11,962,285,332.18. This trading day marked a significant uptick compared to the previous session on Thursday, October 17, with a 50% increase in trading volume and an impressive 87% rise in turnover, despite an 8% decline in the number of deals.
As of Friday’s close, the market capitalization of the Nigerian Stock Exchange stood at NGN 59.4 trillion. A total of 122 listed equities participated in the trading, resulting in 21 gainers and 24 losers.
Top Performers
Leading the gainers’ list was McNichols, which saw its share price rise by 10%, closing at NGN 1.43 per share. It was closely followed by University Press, which appreciated by 9.41%, Daar Communications at 9.09%, and Transcorp Power, which gained 8.76%.
On the losing side, Aradel Holdings experienced the largest decline, with a significant price drop of 9.99%, ending the day at NGN 625.40 per share. Deap Capital Management & Trust followed with a decrease of 9.66%, while Champion Breweries and NPF Microfinance Bank saw declines of 8.8% and 5.88%, respectively.
Trading Volume Highlights
Japaul Gold and Ventures emerged as the top stock in terms of trading volume, with an impressive 137 million shares traded. Other notable contributors included United Bank for Africa, which saw 38.6 million shares traded, Zenith Bank with 27.9 million shares, and Access Holdings with 27.4 million shares.
Market Indices Performance
In terms of market indices, the benchmark NGX All-Share Index (ASI) experienced a slight decline, shedding 10.91 points (-0.01%) to close at 98,070.47. Despite this minor drop, the ASI has demonstrated resilience with a weekly gain of 0.48%, a four-week gain of 0.07%, and a notable year-to-date gain of 31.16%.
Other indices also displayed positive trends, including the NGX Top 30 Index, which increased by 0.05%, reflecting a year-to-date gain of 30.98%. The NGX Consumer Goods Index rose by 0.63%, showcasing a substantial year-to-date gain of 40.25%. Meanwhile, the NGX Banking Index climbed 0.51%, with a modest year-to-date gain of 3.25%. Additionally, the NGX Pension Index and NGX Premium Index reported gains of 0.29% and 0.13%, respectively.
Overall, the trading session on October 18, 2024, underscored vibrant market activity on the NGX, reflecting an optimistic outlook among investors despite the slight fluctuations in the indices.
