NGX All Share Index Jumps as CHAMS Lists Shares
The Nigerian Exchange (NGX) All-Share Index (ALSI) closed on a positive note due to sustained buying interest, up by 0.59% to close at 153,354.13 points.
The stock market key performance indicators reached a new height, with market capitalisation getting close to its peak at N98 trillion. This happened due to new shares listing and the Santa Claus rally.
The bullish outturn was buoyed by price upticks in some consumer goods counters, such as BUAFOODS (+1.88%) and INTBREW (+5.60%), alongside demands in FIRSTHOLDCO (+9.35%) and WAPCO (+1.50%).
The equities market sentiment was bullish, with market breadth printing at 1.12x, as 29 gainers led by ALEX (+9.96%) outperformed 26 laggards, which were led by ROYALEX (-7.22%).
Stirred by improved appetite, trading activity metrics increased, with total volume traded appreciating by 50.0% to 677.4 million units and total value traded increasing by 59.5% to N20.8 billion.
VFDGROUP led the volume charts with 192.0 million units (28.3% of total volume) traded, while GTCO led the value chart with N5.6 billion (26.9% of total value) worth of trades.
The local bourse expanded by ₦578.9 billion to ₦97.77 trillion, driven by investors realigning their portfolios in anticipation of the New Year.
According to the market report, 7.62 million units of CHAMS shares were listed on the NGX today, causing a 0.01% discrepancy in the market index and market cap percentage increase.
The Consumer Goods (+1.30%) index led the sectorial performance, followed by the Banking (+1.23%) and Industrial Goods (+0.21%) indexes, buoyed by BUAFOODS (+1.88%), FIRSTHOLDCO (+9.35%), and WAPCO (+1.50%), while the Commodity index closed flat.
On the flipside, the Insurance (-0.13%) and Oil & Gas (-0.02%) indices declined, dragged down by SOVRENINS (-5.28%) and OANDO (-0.26%), respectively. Airtel Africa-Starlink: Satellite-to-Phone Deal Catalyst for Re-rating
