NGX Index, Market Cap Rise by N344bn as Stanbic, BUA Rally
The equities market closed on a positive note on Friday, with the Nigerian Exchange (NGX) All-Share Index (ASI) gaining 0.22% to settle at 249,712.37 points.
The positive price movement lifted the domestic bourse year-to-date return to +60.47% and added ₦344.23 billion to market capitalisation, which closed at ₦160.08 trillion.
NGX was upbeat on the back of buying interest in BUACEMENT (+1.45%), NB (+2.87%), and STANBIC (+2.65%), pushing the benchmark index higher by 0.22%.
Market breadth was positive, printing at 1.11x, as the session produced more gainers (30) than losers (27). Overall, ALEX (+10.00%) and DAARCOMM (+10.00%) emerged as the market’s top performers, while TRANSEXPR (-9.92%) led the laggards.
FIDELITYBK led both the volume and value charts with 198.1 million units (27.8% of total volume) worth N4.6 billion (15.80% of total value).
Trading activity softened across the board, with volume, turnover, and deal count declining 32.76%, 6.08%, and 0.10% to 711.86 million shares, ₦28.08 billion, and 62,386 transactions, respectively.
Sectoral performance was mixed, as Industrial (+0.53%), Consumer Goods (+0.28%), Banking (+0.25%), and Oil & Gas (+0.18%) all finished in positive territory, while Insurance (-0.18%) weighed on the index, and the Commodity sector ended flat.
Stockbrokers said they expect the equities market to sustain its bullish tone, underpinned by renewed investor confidence and ongoing portfolio readjustment. #NGX Index, Market Cap Rise by N344bn as Stanbic, BUA Rally Heirs Insurance Launches Multi-Language GenAI Assistant
