NGX Index Surges as Equities Investors Gain N257bn
The Nigerian Exchange (NGX) index increased as equities investors gained N257 billion due to significant buying interest. The market closed in positive territory, extending the previous day’s rally with key market performance indicators up by 0.37%.
The bullish sentiment was driven by sustained buying interest in medium- and large-scale stocks such as NESTLE, HONYFLOUR, and OKOMUOIL, among others, underscoring continued investor confidence in the market’s upward momentum.
The Nigerian Exchange All-Share Index increased by 408.31 basis points to close at a new all-time high of 109,467.64 points, representing a 0.37% increase from the previous session. However, market activities were mixed as the total volume of all trades increased by 37.38%, while the total value dropped by 29.93%.
In its note, Atlass Portfolios Limited told investors that approximately 729.88 million units valued at ₦13,879.12 million were transacted across 14,743 deals.
In terms of volume, FMCB led the activity chart, accounting for 37.42% of the total volume of all trades conducted in the market, followed by FIDELITYBK (5.96%), CAVERTON (4.81%), AIICO (4.64%), and FTNCOCOA (3.61%), rounding out the top five.
MTNN emerged as the most traded stock in value terms, accounting for 24.77% of the total value of all trades on the exchange on Thursday.
HONYFLOUR and NESTLE topped the advancers’ chart with a price appreciation of 10.00 percent each, trailed by BETAGLAS (+9.98%), NPFMCRFBK (+9.81%), NEIMETH (+9.77%), SKYAVN (+9.75%), MCNICHOLS (+9.66%), and twenty-nine others.
Twenty-three (23) stocks depreciated, where MULTIVERSE was the top loser, with a price depreciation of -9.64%, followed as MAYBAKER (-3.82%), JAIZBANK (-3.41%), STERLINGNG (-3.33%), WEMABANK (-2.77%), and OANDO (-1.87%).
In that regard, the market breadth closed positive, recording 36 gainers and 23 losers. The market sectoral performance was positive, as three out of the five major market sectors were up, led by the consumer goods sector, which grew by 1.16%, followed by the banking sector, which appreciated by 0.20%, and the industrial sector, which grew by 0.18%.
The Oil & Gas sector recorded a loss of 0.18%, while the Insurance sector closed flat. Overall, the equities market capitalisation of the Nigerian Exchange increased by ₦256.62 billion to settle at ₦68.80 trillion, also marking a 0.37% increase. Equities Investors Gain N1.04trn as Nigerian Stocks Boom
