NGX Hits N88trn as Earnings, Interim Dividend Fuel Rally
The Nigerian Exchange (NGX) market capitalisation hit a new all-time high of N88 trillion on Wednesday amidst ongoing earnings and the interim dividends festival in the local bourse.
Extending its bullish run, the Nigerian bourse All-Share Index (ASI) appreciated by about 100 basis points to close at 139,278.67 points, pushing the year-to-date (YTD) return to 35.32%. This robust performance underscores sustained investor optimism and growing confidence in the resilience of market fundamentals.
Investor sentiment remained upbeat, as reflected in the positive market breadth—39 stocks advanced while 32 declined—driven by a blend of bargain hunting and selective profit-taking. The stock market uptrend was fueled by sustained buying interest in medium- and large-scale stocks across major sectors, with the banking sector leading the charge, recording a notable gain of 1.94%.
Stockbrokers said renewed interest was underpinned by growing investor optimism following the release of strong half-year financial results from quoted companies. However, market activities were mixed today as the total volume of all trades declined by -3.73%, while the total value increased by 11.58%.
In its note, Atlass Portfolio Limited told investors that approximately 905.73 million units valued at ₦34,174.69 million were transacted across 36,027 deals. In terms of volume, FIDELITYBK led the activity chart, accounting for 10.16% of the total volume of trades, followed by ACCESSCORP (4.84%), UNIVINSURE (3.63%), FCMB (3.58%), and GTCO (3.40%), rounding out the top five.
MTNN emerged as the most traded stock in value terms, accounting for 10.00% of the total value of all trades executed on the exchange.
MULTIVERSE and ROYALEX topped the advancers’ chart for today with a price appreciation of 10.00 percent each, trailed by BERGER (+9.97%), DANGSUGAR (+9.97%), NPFMCRFBK (+9.97%), UACN (+9.94%), MECURE (+9.89%), and thirty-two others.
Thirty-one stocks depreciated, trading data from the domestic bourse showed. ABBEYBDS and FTNCOCOA were the top losers, with a price depreciation of -10.00% each. Other decliners include CONHALLPLC (-7.78%), HONYFLOUR (-7.22%), TANTALIZER (-7.04%), VITAFOAM (-5.44%), and ELLAHLAKES (-4.08%).
With the trading pattern, the market breadth closed positive, recording 39 gainers and 31 losers. On sectoral performance, the Banking (+1.94%), Industrial Goods (+1.35%), and Commodities (+0.04%) sectors closed positive, while the Insurance and Oil & Gas sectors shed 0.95% and 0.08%, respectively.
The consumer goods sector ended the week flat. Overall, the equity market capitalisation surged by ₦868.69 billion to settle at ₦88.06 trillion, also marking a 1.00% increase. #NGX Hits N88trn as Earnings, Interim Dividend Fuel Rally NNPCL Has 3 Weeks to Address N210 Trillion in Audit Discrepancies – Senate
