NGX extends gains with All-Share Index (advancing by 0.12%

The Nigerian equities market extended yesterday’s gains, with the NGX All-Share Index (ASI) advancing by 0.12% to close at 245,209.34 points. Similarly, market capitalisation rose by 0.12% to N158.28trn, while the market’s year-to-date (YTD) return edged higher to 57.58%, from 57.39% in the previous session.

The positive performance was driven by gains in FIRSTHOLDCO (+2.19%), FCMB (+8.55%) and WEMABANK (+6.23%), which more than offset declines in ETI (-9.99%), UBA (-2.03%) and MAYBAKER (-7.50%).

Trading activity moderated during the session, with total traded volume declining by 35.47% to 531.77mn units, while transaction value fell by 19.68% to N20.46bn. FCMB (+8.55%) led the volume chart with 131.74mn units traded, while FIRSTHOLDCO (+2.19%) topped the value chart with N5.95bn worth of transactions.

Market breadth remained negative at 0.64x, with twenty-three (23) gainers against thirty-six (36) losers, indicating that the market’s marginal advance was driven by gains in a handful of large-cap stocks. ETERNA (+10.00%) emerged as the session’s top gainer, while ETI (-9.99%) recorded the steepest decline.