Nigerian Stock Market Surges as Investors Gain N192bn
The Nigerian stock market surged on Thursday as investors gained about N192 billion, extending the previous day’s decline on improved sentiment.
The equities segment of the Nigerian Exchange closed trading activities on a positive note, with key market performance indicators rising by 0.12%, stockbrokers said.
Despite the negative market breadth, the local bourse extended the positive momentum from the previous session, supported by sustained bargain hunting in medium- and large-cap stocks across key market sectors.
The NGX All-Share Index climbed by 297.10 basis points in today’s trading session, reflecting a 0.12% increase to close at 245,209.34.
The Nigerian stock market capitalisation surged by ₦191.78 billion, representing a growth of 0.12%, settling at ₦158.28 trillion.
Total volume and the total value of all transactions executed in the local bourse declined by -35.47% and -19.68%, respectively.
Stockbrokers reported that approximately 531.77 million units valued at ₦20,460.33 million were transacted across 44,826 deals.
FCMB topped the volume chart, accounting for 24.81% of all companies’ shares traded in the market, followed by FIRSTHOLDCO (8.18%), AVACAP (6.84%), CHAMS (6.83%), and ACCESSCORP (4.60%).
FIRSTHOLDCO topped the value chart, accounting for 29.13% of the total value of all trades closed, thereby making it the highest traded on the exchange.
ETERNA led the gainers chart, up by +10.00%, then trailed by AVACAP (+9.63%), LEGENDINT (+9.52%), FCMB (+8.55%), HONYFLOUR (+7.98%), PZ (+7.02%), and eighteen others. A total of thirty-five stocks depreciated.
With a price depreciation of -10.00%, FTGINSURE topped the worst performers’ chart, followed by ETI (-9.99%), CHELLARAM (-9.85%), THOMASWY (-9.83%), UPDC (-8.45%), and CONHALLPLC (-8.02%).
Hence, market breadth closed on a negative note, with 24 gainers and 35 losers. Sectoral performance was positive today as three of the five major market sectors increased.
The Banking sector led the gains at +0.62%, followed by the Consumer goods sector (+0.15%) and the Oil & Gas sector (+0.06%). The Insurance sector and the Industrial goods sector declined by -0.93% and -0.002%, respectively. #Nigerian Stock Market Surges as Investors Gain N192bn# Equities Investors Gain N71 billion in Nigerian Cold Market
