NGX Swells by N308bn as Industrial, Insurance Stocks Top Rally
The Nigerian Exchange (NGX) market capitalisation swelled by about N308 billion as industrial and insurance stocks drive momentum in the local bourse. The local bourse extended its bullish momentum to close today’s trading on a positive note, with key performance indicators up by 0.33%.
Sustained bargain hunting drove stock market cap to its tenth successive session of gains, supported by sustained buying interest in medium and large-scale stocks.
Specifically, the market index or All-Share Index grew by 484.31 basis points today, to close at 146,203.40 points, representing a 0.33% increase from the previous session.
According to data from the Nigerian bourse, equities market capitalisation increased by N307.98 billion to settle at ₦92.80 trillion. However, market activities were mixed as the total volume of all trades dropped by -34.00%, while the total value was up by +101.47%.
Atlass Portfolio Limited told investors in a note that approximately 346.99 million units valued at ₦27,425.85 million were transacted across 24,691 deals.
In terms of volume, FIDELITYBK led the activity chart, accounting for 12.21% of the total volume of all trades executed, followed by DANGCEM (6.08%), STERLINGNG (5.76%), JAIZBANK (5.66%), and CHAMS (5.14%) – rounding out the top five.
DANGCEM emerged as the most traded stock in terms of value, accounting for 40.17% of the total value of all trades consummated on the exchange.
CAVERTON and EUNISELL topped the advancers’ chart with a price appreciation of 10.00 percent each, trailed by SUNUASSUR (+9.90%), IMG (+9.10%), MECURE (+8.81%), GUINEAINS (+5.63%), UNIVINSURE (+5.56%) and twenty-five others. Twenty stocks depreciated, according to market data obtained from the local bourse.
FTNCOCOA was the top loser, with a price depreciation of -6.67%, trailed by FIDELITYBK (-2.38%), VERITASKAP (-1.90%), CADBURY (-1.29%), NASCON (-1.04%), and BUACEMENT (-0.62%).
With the increasing bets on stock with upside potential, the market breadth closed positively, recording 32 gainers and 20 losers. Sectoral performance was largely positive: Banking (+0.26%), Insurance (+0.64%), Consumer Goods (+0.43%), and Industrial Goods (+0.67%) gained, while Oil & Gas and Commodity sectors remained flat.
Trading activity was mixed as transaction values surged 101.47% to ₦27.43 billion, but volumes declined 34% to 346.99 million shares, and deals dropped 3.54% to 24,691. This reflects that fewer but significantly larger-sized trades dominated the session. AIICO Delivers 182% Return to Investors, Targets N20bn Profit
