NGX Index Rises 0.67%, NB, ARADEL, ACCESS Rally
The equities segment of the Nigerian Exchange (NGX) maintained its winning streak, posting N1.36 trillion in capital appreciation.
Reflecting sustained buying interest in major counters, the NGX All-share index advanced by +0.77% to close at 253,411.67 points, pushing the year-to-date return to +62.20%.
The positive sentiment was largely fueled by buying interest in large-cap tickers, including NB (+9.94%), ARADEL (+6.89%), ACCESSCORP (+6.22%), FIRSTHOLDCO (+5.97%), and WEMABANK (+5.11%).
Trading activity moderated, with volume traded declining 3.09% to 1.46 billion units, while transaction value increased 16.79% to N81.87 billion, stockbrokers reported.
Activity in the financial sector remained strong, with UBA (207.08mn units), ACCESSCORP (114.76mn units), and FIDELITYBK (90.05mn units), topping the volume chart, while ARADEL (NGN10.53bn) and MTNN (NGN9.15bn) led by value.
Market breadth also weakened to 1.23x from 2.38x, as 42 stocks declined while 39 stocks rose. IKEJAHOTEL (+10.00%) and UPL (+10.00%) led the gainers chart while CUSTODIAN (-9.52%) recorded the steepest decline.
Sectoral performance was mixed, as three out of five sectors closed in the positive territory. The NGX Oil and Gas sector led the charge, up 3.40%, buoyed by sustained sentiment in ARADEL (+6.89%).
The NGX Banking sector followed up, up +1.87%, supported by widespread gains in banking stocks, despite losses in GTCO (-0.69%) and FIDELITYBK (-0.68%).
Buying interest remained strong in the NGX Consumer Goods sector, which advanced by +1.71%, supported primarily by gains in NB (+9.94%), PZ (+9.55%), and UNILEVER (+7.67%).
However, profit-taking activities weighed on other sectors. The NGX Insurance sector closed lower by 1.47%, dragged by losses in CUSTODIAN (-9.52%), AIICO (-7.74%), INTENEGINS (-3.60%), and MANSARD (-3.57%).
Similarly, the NGX Industrial declined by 0.49% as BUACEMENT (-1.16%) and LAFARGE (-0.29%) faced mild selling pressure. NBET Lists Landmark N501.02bn Fixed Rate Bonds on FMDQ
