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Bullish turnaround as equity records N71 billion surge, GTCO re-enters SWOOT

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GTCO’s HabariPay posts N2.3 billion before tax in 2023

Bullish turnaround as equity records N71 billion surge, GTCO re-enters SWOOT

The Nigerian Stock Exchange halted its streak of losses, marking an eleventh day with a modest rise of 125.30 points in the All-Share Index, ending at 99,665.05.

This represents a slight uptick of 0.13% from the previous mark of 99,539.75 points.

Market capitalization also experienced growth, climbing by N70.869 billion to reach N56.367 trillion, up from N56.296 trillion.

The positive trend is primarily credited to the robust performance of leading finance firms within the SWOOT sector, further boosted by GTCO’s addition to the sector, which saw its share price soar by 9.55% and ZENITH BANK’s market value rise by 6.76%.

JAPAULGOLD stood out with a commendable 9.58% increase in share price, outperforming 16 other advancing stocks. Conversely, TIP faced a downturn, leading 19 declining stocks with a 10% drop in share price.

Trading volumes peaked with GTCO, which led both in volume and value traded. Despite this, the overall transaction volume witnessed a decline, concluding the day with 8,298 deals, a decrease from the previous session’s 7,168 transactions.

Market Indices
NGX All-Share Index: 99,665.05 points
Previous ASI: 99,539.75 points
% Day Change: +0.13%
Day’s Lowest: 99,507.03 points
Day’s Highest: 99,846.26 points
% YTD: +33.29% (Previous: +33.12%)
Market Cap: N56.367 trillion
Volume Traded: 306.62 million units
Value: N5.301 billion
Deals: 8,298
Top Gainers
JAPAULGOLD: +9.58% to close at N1.83
GTCO: +9.55% to close at N36.70
FTNCOCOA: +8.76% to close at N1.49
UNIVINSURE: +8.57% to close at N0.38
RTBRISCOE: +8.47% to close at N0.64
Top Losers
TIP: -10% to close at N1.80
PRESTIGE: -9.84% to close at N0.55
OMATEK: -9.52% to close at N0.76
VITAFOAM: -9.26% to close at N17.15
LEARNAFRICA: -9.09% to close at N3.00
Top Traded Stocks
The market experienced a modest increase, with trading volumes climbing by 18.91%. This surge resulted in an additional 48.76 million shares being traded, bringing the total volume to about 306.62 million shares. This marks a significant rise from the previous session’s volume of 257.86 million shares.

GTCO led the trading volume with 50.16 million shares, closely followed by ACCESSCORP with 48.07 million shares. Other notable trading volumes included UBA with 41.74 million shares, UNIVINSURE with 39.71 million, and ZENITHBANK with 15.17 million shares.

However, the total value of trades slightly decreased by 1.81%, settling at N5.301 billion compared to N5.399 billion in the previous session, indicating a N97.95 million decrease.

Regarding trade values, GTCO was at the forefront with trades worth N1.77 billion. UBA followed with N956.46 million, ACCESSCORP with N815.93 million, ZENITHBANK with N560.32 million, and STANBIC with N216.72 million.

SWOOT and FUGAZ Update
Today’s Nigerian stock market concluded positively, largely due to the remarkable gains of prominent banks. The integration of GTCO into the SWOOT group was a significant factor, as it saw a 9.55% surge in its stock price, while Zenith Bank also enjoyed a 6.76% increase.

Conversely, a group of corporations, including AIRTELAFRICA, BUACEMENT, BUAFOODS, DANGCEMENT, GEREGU, MTNN, SEPLAT, TRANSCOHOT, and TRANSPOWER, showcased stability by maintaining their stock prices amidst market fluctuations.

Among the banking sector, GTCO, Zenith Bank, and UBA stood out as the top performers, with their share prices climbing by 9.55%, 6.76%, and 0.66%, respectively.

On the other hand, Access Holdings faced a slight decline, dropping 1.18% in value, while FBN Holdings’ shares remained unchanged.

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