Nigerian Exchange Surpassed N91trn as BUA, Dangote Rally
The Nigerian Exchange (NGX) broke N91 trillion in market capitalisation at the beginning of the week as bargain hunting activities increased. The stock market commenced the week on a positive note, as key performance indicators appreciated by 1.99%.
The NGX year-to-date return advanced to 40%, staying ahead of the annual inflation rate of 22.22%. Stockbrokers said the uptrend was fuelled by sustained buying interest in large and moderately priced, fundamentally strong stocks.
Top market influencers that boosted market capitalisation strongly include BUAFOODS, DANGCEM, CHAMPIONS, and 44 others across major market sectors. Investors’ sentiment remained upbeat, buoyed by the ongoing release of second-quarter corporate earnings and a continued decline in yields across the fixed-income market, prompting a rotation into equities.
Trading data revealed that the All-Share Index surged by 2,811.18 basis points in today’s trading session, reflecting a 1.99% increase to close at a fresh all-time high of 144,074.23.
However, market activities were down as the total volume and total value of all trades conducted on the exchange declined by -24.84% and -27.48%, respectively. In its note, Atlass Portfolio Limited told investors that approximately 811.10 million units valued at ₦19,471.77 million were transacted across 35,963 deals.
In terms of volume, FCMB led the activity chart, accounting for 10.49% of the total volume of all trades executed in the local bourse, followed by UNIVINSURE (10.19%), FIDELITYBK (5.61%), AIICO (4.96%), and VERITASKAP (4.91%), rounding out the top five.
Ticker: GTCO emerged as the most traded stock in value terms, accounting for 14.21% of the total value of trades on the exchange.
UPDC, LASACO, and ROYALEX topped the advancers’ chart with a price appreciation of 10.00 percent each, trailed by UACN (+9.97%), SOVRENINS (+9.94%), CHAMPION (+9.91%), ELLAHLAKES (+9.91%), MBENEFIT (+9.89%), and thirty-nine others.
Twenty-three stocks depreciated, according to stockbrokers. ACADEMY and TRANSPOWER were the top losers, with a price depreciation of -10.00% each. Other decliners include TOTAL (-9.22%), DANGSUGAR (-6.27%), CHAMS (-4.64%), IKEJAHOTEL (-1.44%), and ARADEL (-1.15%).
Based on trading direction, the market breadth closed positive, recording 47 gainers and 23 losers. Sectoral performance was largely positive, led by the Industrial Goods (+5.72%), Consumer Goods (+4.93%), Insurance (+3.44%), and Banking (+0.08%) sectors, which recorded gains.
Meanwhile, the Oil & Gas (-1.12%) and Commodities (-1.99%) sectors closed in the red. Overall, the Nigerian stock market capitalisation surged by ₦1,776.99 billion, representing a growth of 1.99%, settling at ₦91.15 trillion. Chams HoldCo’s Capital Raise—A Strategic Bet on Long-Term Value Amid Mixed Fundamentals
