NGX Extends Bullish Run as Investors Gain N92bn

The Nigerian Exchange extended its bullish run on Tuesday, gaining N92bn as renewed interest in insurance stocks boosted market performance.

The market capitalisation rose to N92tn, while the All-Share Index advanced 172.48 points, or 0.12 per cent, to close at 144,995.26. This brought the market’s week-to-date gain to 1.84 per cent, four-week gain to 4.02 per cent, and year-to-date growth to 40.87 per cent.

Market data showed that investors traded 507.4 million shares worth N24.28bn in 30,665 deals, reflecting a two per cent decline in volume, a 67 per cent rise in turnover, and a 14 per cent drop in the number of deals compared to Monday’s session.

A total of 127 listed equities participated in trading, with 38 gainers and 35 losers. Cornerstone Insurance led the gainers’ chart with a 9.92 per cent rise to close at N6.65 per share, followed by Consolidated Hallmark Holdings, which appreciated 9.52 per cent. Other top gainers included Chams with 9.22 per cent and VFD Group with 9.17 per cent.

On the losing side, Livingtrust Mortgage Bank topped the chart with a 10 per cent decline to N5.94 per share, while Austin Laz and Company lost 9.74 per cent, Juli dropped 9.6 per cent, and Livestock Feeds shed 7.5 per cent.

Access Holdings recorded the highest volume of traded shares at 45.9 million units valued at N1.19bn, followed by Ellah Lakes with 39.5 million shares, Chams with 30.8 million shares, and Sovereign Trust Insurance with 27.8 million shares.

In terms of value, Aradel Holdings led with transactions worth N13.16bn, followed by Dangote Cement with N1.57bn, Access Holdings with N1.19bn, Lafarge Africa with N644.66m, and Ellah Lakes with N594.31m.

Performance across sectoral indices was mostly positive. The Insurance Index gained 1.98 per cent, and the Premium Index rose 1.06 per cent, while the Industrial Index appreciated 0.69 per cent. Similarly, the Consumer Goods Index advanced 0.26 per cent.