NGX Crosses N48Trn, Equities Investors See Largest Daily Gain

The equities investors in the Nigerian Exchange (NGX)  saw its largest daily of more than N1.8 trillion due to strong bargain hunting in the local bourse, trading results show. This pushed market capitalisation above N48 trillion, its latest all-time high score after N13 trillion record gain achieved in 2023.

In the last two days, the market has climbed by N2.7 trillion amidst sustained rallies that have pushed the market index above 87,000 benchmark. Consequent to the bullish performance in the Nigerian Exchange (NGX) today, the market key performance indicators surged by +3.93%.

The local bourse hits another record high, crossing the 87,000 mark, as investors buying interest continues to grow across all the major market sectors despite a rise in the inflation rate. Therefore, the market index or All-Share Index increased by 3,330.21 basis points today, representing a rise of +3.93% to close at 87,971.10 points.

Stockbrokers at Atlass Portfolios Limited said in an update that market activities inched higher during the session with strong buying momentum that has remained untamed. Total volume and total value of stocks traded for the day increased by +32.11%, and +42.94% respectively, according to data obtained from the Nigerian equities market.

Citing data from the local bourse, Atlass Portfolios Limited said approximately 1,066.84 million units valued at ₦15,767.97 million were transacted in 14,505 deals.

JAIZBANK was the most traded stock in terms of volume, accounting for 13.85% of the total volume of trades. The Islamic lender was followed by AIICO (9.11%), FCMB (6.22%), STERLINGNG (5.14%), and TRANSCORP (4.50%) to complete the top 5 on the volume chart.

NASCON was the most traded stock in value terms, with 16.03% of the total value of trades on the exchange. It was noted that 11 stocks appreciated by 10.00 per cent. Other stocks that achieved a maximum daily gain of 10% are BERGER, DANGSUGAR, FLOURMILL, NASCON, NB, STERLINGNG, and TRANSCORP.

Likewise, 3 stocks appreciated by +9.96% include, UNITYBNK, WEMABANK, and BUACEMENT. JAIZBANK and CONHALLPLC share prices inched higher by +9.94%. On the list of gainers were other 60 stocks that appreciated as well.

Ten (10) stocks depreciated, according to stockbrokers notes. ROYALEX was the top loser, with a price depreciation of -8.16%. Also on the losers chart are MULTIVERSE (-6.59%), ELLAHLAKES (4.79%), OANDO (-3.60%), and CUSTODIAN (-2.04%).

Based on the trading direction, the market breadth closed largely positive, recording 76 gainers and 10 losers. In addition, the market sector performance was positive. Nigeria Eurobond Slumps after CBN Resumes OMO Auction

All the five major market sectors were up, led by the Industrial sector which grew by +9.72%, followed by a 5.80% positive movement registered by the Insurance sector. The Banking sector popped higher by +4.35%, the Consumer goods sector jumped by +2.97%, and the Oil & Gas sector gained 0.11%.

Overall, the equities market capitalisation of the Nigerian Exchange rose by ₦1,822.35 billion, representing a growth of +3.93%, to close at ₦48.14 trillion. #NGX Crosses N48Trn, Equities Investors See Largest Daily Gain