The Nigerian stock market started with positive news in July (Q2 2023) as investors gained N534 billion on the first trading day of the month. This news was recorded on the closing day yesterday as investors smile with new month wins.

At the close of the day, the All Share Index (ASI) recorded a gain of 980.97 points, showing a growth of 1.61% to close at 61,949.24 points. Still, on that note, market capitalization recorded a gain of N534 billion to close at N33.732 trillion.

The positive outcome of the stock market yesterday was due to the gains of stocks like MTN Nigeria Communications (MTNN), Conoil, Guaranty Trust Holding Company (GTCO), MRS Oil Nigeria, and NASCON Allied Industries.

Words by Market Analyst—At United Capital Plc, analysts said: “We expect the bullish sentiments in the equities market to persist on the back of the attractiveness of the market over the depressed rates in the fixed-income market.

“Also, we believe the positive sentiments around the new policies to continue to drive the rally in the market. Lastly, we expect investors to begin to take positions ahead of the upcoming of Q2, 2023 earnings season.”

As calculated by market breadth, market sentiment was positive yesterday as 67 stocks gained while 13 stocks experienced losses. 

Top Gainers: On the record, Meyer, Eterna, Japaul Gold & Ventures, Fidelity Bank, Linkage Assurance, and University Press recorded the highest price gain of 10% each to close yesterday at N23.10, N2.64, N7.70, 77 kobo, 77 kobo and N2.75 respectively, per share.

Transnational Corporation (Transcorp) also gained 9.97% to close at N3.86, while Access Holdings gained 9.94% to close at N18.25, per share.

Top Losers: Triple Gee & Company led with a 9.87% to close at N3.38, while Electronic Technology and Cornerstone Insurance followed with a fall of 9.09% each to close at 30 kobo and N1.00 respectively, per share.

Associated Bus Company fell by 6.82% to close at 41 kobo and Julius Berger declined by 3.23% to close at N30.00 per share.

Total Amount Traded Yesterday: The total amount traded increased by 20.78% to 1.205 billion units worth N14.04 billion in 12,128 transactions. 

How Shares Were Sold by Top Companies Yesterday: Trading in FCMB Group shares leads the trading table with 173.808 million shares worth N930.697 million. United Bank for Africa (UBA) was second, with 160.674 million shares worth N2.119 billion, and Access Holdings was third, with 132.519 million shares worth N2.384 billion.

Transcorp sold 74.964 million shares for N285.248 million, while Jaiz Bank sold 80.638 million shares worth N138.393 million.

Below you will see the list of the most capitalized companies in June 2023

20 Most Capitalized Companies - June 2023

1. ?MTN Nigeria

2. ?Airtel Africa

3. ?Dangote Cement

4. ?BUA Cement

5. ?BUA Foods

6. ?Zenith Bank

7. ?GTCO

8. ?Nestle Nigeria

9. ⚫Seplat Energy

10. ?Geregu Power

11. ?StanbicIBTC

12. ?FBN Holdings

13. ?Access Holdings

14. ?Lafarge Africa

15. ?Nigerian Breweries

16. ?UBA Plc

17. ?Dangote Sugar

18. ?Ecobank

19. ?Transcorp Hotels

20. ?Okomu Oil

?Financial services [7] ?Consumer Goods [4] ?Industrial Goods [3] ?ICT [2] ?Services ?Utilities ⚫Oil & Gas ?Agriculture