NGX Tops N136trn as FirstHoldco, ETI, ARADEL Gain
The Nigerian Exchange (NGX) market capitalisation surpassed N136 trillion as First Holdco, Ecobank Transnational Incorporation (ETI) and Aradel Holdings led today’s rally.
The stock market closed on a positive note in today’s rendition, as All-share index and market capitalisation advanced by 1.23% to settle at 211,901.01 points and N136.4 trillion, respectively.
The local bourse positive performance was largely driven by gains in ARADEL (+9.99%), MTNN (+2.46%), FIRSTHOLDCO (+9.35%) and ETI (+9.97%). Market breadth was very positive at 2.2x, as the total number of gainers (44) more than doubled the decliners (20).
TRANSEXPR(+10.00%), GUINEAINS (+10.00%), ARADEL (+9.99%) and ETI (+9.97%) emerged as the best performing counters, while IKEJAHOTEL (-9.73%) and WAPIC (-8.77%) led the laggards.
However, activity metrics weakened with total volume and value traded decreasing by 17.2% and 17.0% to 585.0 million units and N34.8 billion, respectively.
ZENITHBANK led both the value and volume charts, with 61.7 million units (10.6% of total volume) worth N7.6 billion (21.9% of total value) exchanged.
Sectoral performance was largely bullish, with four indices posting gains in today’s session.
The Oil & Gas (+4.76%) index led the charge, followed by the Commodity (+2.84%) index, both driven by price gains in ARADEL (+9.99%).
Banking (+2.49%) and Consumer Goods (+0.34%) then followed, on the back of buying interests in FIRSTHOLDCO (+9.35%) and DANGSUGAR (+9.38%), respectively.
However, the Insurance (-0.74%) and Industrial Goods (-0.03%) indices declined following losses in WAPIC (-8.77%) and CAP (-8.61%), respectively. AI, Tech Stocks Power Wall Street to Record Highs
