NGX Index Climbs, Investors Gain N118bn on Santa Claus Rally
The Nigerian Exchange (NGX) maintained its positive momentum on Wednesday, with the All-Share Index advancing 0.12% to 153,539.83 points, while market capitalisation expanded further.
Supported by bargain hunting, equities investors’ portfolio value surged by ₦118.37 billion to ₦97.89 trillion, as investors continued repositioning their portfolios ahead of the New Year.
Trading activity showed a notable improvement, with volume and value traded increasing by 157.88% and 44.56% to settle at 1.7 billion units and N30.0 billion, respectively.
ABBEYBDS dominated both the activity charts, with 1.1 billion units (64.38% of total volume traded) worth N7.1 billion (23.52% of total value traded).
Market sentiment was bullish, reflected in a breadth ratio of 1.6x, with 36 advancing stocks outweighing 22 declining counters. Tickers which include GUINNESS, AUSTINLAZ, INTBREW, TRANSCOHOT, and ALEX emerged as top performers, whereas LEGENDINT, MANSARD, JAIZBANK, MTNNG, and NEM recorded the largest losses.
Sectoral activity was divergent: banking led gains with a 1.72% surge, followed by consumer goods climbing 1.50%, industrial edging up 0.05%, and oil & gas rising 0.02%.
Insurance and Commodity declined 1.47% and 0.10%, respectively. Trading metrics showed mixed results as share volume jumped 157.16% to 1.74 billion units and transaction value increased 43.83% to ₦29.89 billion, while deal count dropped 31.18% to 18,987 transactions.
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