NGX Sustains Bullish Trend as Equity Cap Gains N764bn
The Nigerian Exchange Limited extended its bullish momentum on Tuesday, gaining N764bn in market capitalisation as investors sustained buying interest across key sectors, particularly in blue-chip and consumer stocks.
At the end of the trading session, the All-Share Index increased by 1,211.17 points or 1.02 per cent to close at 119,790.82 points, compared to 118,579.65 points recorded in the previous session. This brought the overall market capitalisation to N75.6tn from N74.8tn, reflecting a daily gain of N764bn.
A total of 130 equities participated in trading, out of which 61 stocks recorded gains while 23 declined.
Okomu Oil Palm Plc led the gainers chart with a 10 per cent increase in share price to close at N748.00 per share. It was followed by Beta Glass Plc, which rose by 10 per cent to settle at N333.95 per share. Dangote Sugar Refinery Plc also appreciated by 10 per cent, closing at N44.00, while UPDC Plc gained 10 per cent to end the day at N3.30 per share. Champion Breweries Plc recorded a 9.98 per cent gain to close at N9.92, while Computer Warehouse Group Plc appreciated by 9.90 per cent to close at N10.55.
On the losers’ chart, Daar Communications Plc topped with a 7.81 per cent decline to close at N0.59 per share. Prestige Assurance Plc followed with a 5.56 per cent drop to N1.02, while Industrial and Medical Gases Nigeria Plc depreciated by 4.30 per cent to close at N33.40. Also on the losers’ list was NPF Microfinance Bank Plc, which fell by 4.25 per cent to close at N2.03. Aradel Holdings Plc dropped by 4.06 per cent to close at N515.00, and First Bank of Nigeria Holdings Plc shed 3.93 per cent to close at N26.90 per share.
Market activity also improved, with a total of 756.5 million shares valued at N23.29bn exchanged in 22,206 deals.
This represented a 16 per cent increase in volume and a 9 per cent rise in turnover compared to Monday’s session.
Royal Exchange Plc recorded the highest volume of shares traded with 104 million units. It was followed by Fidelity Bank Plc with 83.9 million shares, Access Holdings Plc with 55.6 million shares, and Zenith Bank Plc with 34.2 million shares.
Sectoral performance was broadly positive. The Industrial Goods Index posted the highest return, rising by 3.13 per cent, while the Consumer Goods Index appreciated by 2.01 per cent. Other indices that recorded notable gains include the Top 30 Index, which rose by 1.26 per cent, the Pension Index, which gained 1.16 per cent, the Premium Index, which increased by 1.03 per cent, and the Main Board Index, which advanced by 1.02 per cent.
NGX began the week on a bullish note, adding N279bn to its market capitalisation as investors showed renewed interest in key stocks across several sectors.
