NGX Index, Market Cap Rise Hit New High on 22-Day Rally
The Nigerian Exchange (NGX) sustained its bullish momentum with an uptick in key performance indicators as the local bourse rallied for 22 consecutive trading sessions.
Trading data showed that NGX All-Share Index (ASI) advanced by 56 basis points on Wednesday, driven by gains in ARADEL and 45 other stocks, according to stockbrokers.
Market breadth remained positive, with 46 gainers against 28 losers. ACADEMY Plc led the gainers’ chart with a 10.0% appreciation, while MAY & BAKER Plc topped the losers’ chart, declining by 9.8%.
The market recorded a turnover of N29.85 billion, as 761.94 million shares exchanged hands in 55,751 deals, reflecting solid liquidity and continued investor confidence.
Activity was largely subdued across most counters, with trades primarily driven by negotiated crosses. ACCESSCORP emerged as the most traded stock by volume with 53.41 million shares exchanged, while ARADEL led the value chart with trades worth N8.99 billion.
Sector performance was mixed. The Banking Index gained 5 bps, supported by gains in ZENITHBANK (+1.5%) and WEMABANK (+0.2%), which offset losses in GTCO (-0.5%), FIDELITYBK (-0.5%), and UBA (-1.6%).
The Consumer Goods Index declined by 20 bps, pressured by losses in PZ (-6.5%), NASCON (- 4.2%), HONYFLOUR (-1.3%), INTBREW (-0.7%), and NB (-0.3%), despite gains in DANGSUGAR (+0.7%), VITAFOAM (+1.2%), CHAMPION (+6.2%), and MCNICHOLS (+9.9%).
The Oil & Gas Index surged 626bps, driven by rallies in SEPLAT (+8.6%), JAPAULGOLD (+6.3%), and ARADEL (+5.5%), while OANDO (-0.5%) and ETERNA (-6.3%) closed lower.
The Industrial Index recorded a marginal gain of 1bp, supported by advances in TRIPPLEG (+10.0%), MEYER (+9.9%), and AUSTINLAZ (+1.0%).
At the close of trading session, year-to-date (YTD) performance improved to +7.17%. This further highlights sustained investor optimism and the market’s resilience amid prevailing economic headwinds. Overall, market capitalisation increased by N598.4 billion to close at N106.8 trillion.
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