NGX Crosses N72trn as Equities Investors Gain N1.16trn
The Nigerian Exchange (NGX) market capitalisation crossed N72 trillion as equities investors saw a N1.16 trillion gain. The monster rally that started at the beginning of the short week pushed NGX’s key performance indicators to historical highs.
The local bourse closed positive, extending its winning streak as key market performance indicators advanced by 1.63%. Trading activity remained upbeat ahead of the Salah break, driven by heightened buying interest in mid- and large-cap stocks, including NGXGROUP, MTNN, and 38 others across major market sectors.
Stockbrokers said this broad-based rally reflects sustained investor confidence in the local market amid uncertainties. The All-Share Index increased by 1,835.02 basis points to close at a new all-time high of 114,616.75 points, stockbrokers said in their separate reports.
On a weekly comparison, the market index appreciated by 2.57%, and investors’ wealth increased by approximately ₦1.81 trillion in four days. On Thursday, market activities were up today, as the total volume and total value of all trades conducted surged by 139.05% and 100.68%, respectively.
In its note, Atlass Portfolio Limited told investors that approximately 1,461.85 million units valued at ₦33,473.98 million were transacted across 16,410 deals. In terms of volume, FIDELITYBK led the activity chart, accounting for 64.66% of the total volume of all trades consummated in the local bourse.
The Tier-2 bank was followed by ZENITHBANK (4.90%), JAPAULGOLD (2.72%), GTCO (2.41%), and ACCESSSCORP (2.05%), rounding out the top five. FIDELITYBK also emerged as the most traded stock in value terms, accounting for 49.20% of the total value of all trades closed on the exchange.
CHAMPION and NGXGROUP topped the advancers’ chart for today with a price appreciation of 10.00 percent each, trailed by MTNN (+9.99%), OANDO (+9.96%), MORISON (+9.90%), CORNERST (+9.80%), RTBRISCOE (+9.17%) and thirty-three others.
Twenty-two stocks depreciated, according to data obtained from the Nigerian market. NNFM was the top loser, with a price depreciation of -9.97%. Other decliners include LEGENDINT (-9.49%), LIVESTOCK (-7.82%), HONYFLOUR (-6.82%), JAIZBANK (-4.11%), and VFDGROUP (-2.25%).
At the close of the trading session, the market breadth closed positive, recording 40 gainers and 22 losers. Also, the market sectoral performance was positive, as all five major market sectors were up.
The banking sector grew by 2.46%, followed by the oil & gas sector, which appreciated by 2.36%. The insurance sector rose by 1.31%, the consumer goods sector climbed by 0.84%, and the industrial sector edged higher by 0.25%.
Overall, the equities market capitalisation grew by ₦1,157.13 billion to settle at ₦72.28 trillion, also marking a 1.63% increase. #NGX Crosses N72trn as Equities Investors Gain N1.16trn Mozambique Cuts Interest Rate by 75 bps, Sees Steady Inflation
