Nigerian Exchange Expands Near N62Trn as Investors Gain N503bn
The Nigerian Exchange (NGX) expanded to N61.94 trillion as investors gained N503 billion on Santa Claus rallies that have persisted this week.
The local stock exchange ended today’s trading session on a positive trajectory, with the All-Share Index (ASI) advancing by 0.82% to close at 102,186.03 points.
The bulls continued to dominate the domestic bourse as investor began to hunt for MTN Nigeria and other stocks that had lost weight due to selloffs.
Reversing negative price movement, MTN Nigeria share price gained 9%. Pre-Christmas rally also pushed some banking names valuation higher.
UBA was the most traded stock by volume at 51.17 million units, while DANGCEM was the most traded stock by value at N11.14 billion.
Equities market sentiment remained optimistic, as 37 stocks appreciated compared to 21 decliners. Leading the gainers were MRS, IKEJAHOTEL, MULTIVERSE, SKYAVN, and JOHNHOLT, while THOMASWY, CAVERTON, WAPIC, HMCALL, and LIVESTOCK topped the list of laggards.
MRS (+10.0%) and IKEJAHOTEL (+10.0%) recorded the most significant gains of the day, while THOMASWY (-10.0%) and CAVERTON (-7.4%) topped the losers’ list
Hence, the local bourse added ₦503 billion to the market capitalization, raising it to ₦61.94 trillion and driving the year-to-date (YTD) return to 36.66% – the best performing index globally.
Sectoral indices showed robust performance, with gains recorded in banking (+0.98%), insurance (+1.49%), consumer goods (+0.49%), industrial goods (+0.15%), and oil/gas (+0.14%).
Despite the upbeat mood, trading activity slowed, with the number of deals and trading volume dropping by 32.99% and 14.19%, respectively. However, trading value rose by 12.24%.
In total, 431.78 million shares worth ₦18.26 billion changed hands across 8,369 transactions, with UBA leading in trading volume, trading 51 million shares worth ₦1.9 billion across 563 deals. #Nigerian Exchange Expands Near N62Trn as Investors Gain N503bn#
