NGX grows as investors gain N1trn stock value

With N1 trillion in capital appreciation, a fresh rally keeps Nigerian Exchange (NGX) key performance indicators trending upward on Thursday, with the All-Share Index rising by 108 basis points. The Nigerian equity market closed in positive territory today, extending its rebound from the previous session, bolstered by renewed sentiment in stocks with rock-solid fundamentals.

Stockbrokers reported that the uptick was influenced by investors’ sustained buying interest in some medium- and large-cap stocks, such as OANDO, CUSTODIAN, NAHCO, and AIICO, among others. Trading data revealed that the market index (All-Share Index) added 1,577.34 basis points, reflecting a 1.08% increase to close at 146,981.17 basis points.

Trading dynamics weakened across key metrics as volume declined 28.15% to 579.37 million shares, transaction values plummeted 56.45% to ₦22.12 billion, and deal count dropped 4.6% to 23,382. This trend reflects muted institutional participation via smaller block trades, suggesting tactical accumulation as investors seize favourable valuations. WEMABANK led the volume chart, accounting for 16.50%, followed by UBA (8.88%), ACCESSCORP (8.53%), FIDELITYBK (6.90%), and ZENITHBANK with 6.83%.

ZENITHBANK accounted for 11.61% of the total value of all trades consummated, making the financial services company the highest traded on the exchange. CUSTODIAN and LINKASSURE topped the best performer’s chart, gaining +10.00% each, trailed by OANDO (+9.97%), LEGENDINT (+9.96%), NAHCO (+9.96%), and NCR (+9.88%), and forty-nine others.
A total of ten stocks depreciated, according to data from the local bourse. AUSTINLAZ led losers chart with -9.96% price depreciation, followed by UNIONDICON (-9.68%), STERLINGNG (-5.81%), and NGXGROUP (-5.31%). Hence, the market breadth closed on a positive note as there were 55 gainers and 10 losers.

Sectoral performance was predominantly positive: Insurance led with a 4.58% surge, followed by Banking (+3.80%), Consumer Goods (+1.73%), and Oil & Gas (+0.65%), while Industrial (-0.09%) recorded marginal losses and Commodity (-0.03%) remained relatively flat.