Investor Confidence Lifts NGX by ₦906bn

The Nigerian Exchange (NGX) opened the week on a bullish note as investor confidence lifted equities by 0.57%, driven by gains in Airtel Africa Plc and 34 other stocks.

The All-Share Index rose by 1,412.65 points to close at 251,125.02, while market capitalisation increased by ₦906bn, ending at ₦160.983 trillion.

Month-to-Date and Year-to-Date returns strengthened to 3.7% and 61.4%, respectively, reflecting sustained momentum in the market.

According to Cowry Assets Management Limited, the bullish tone is expected to continue, underpinned by renewed investor confidence and portfolio adjustments.

Market breadth was positive, with 35 advancers outpacing 30 decliners. Airtel Africa led with a 10% gain, closing at ₦3,655.70 per share.

Other notable gainers included International Energy Insurance (+9.68%), Sovereign Trust Insurance (+9.65%), Caverton Offshore (+9.63%), and VFD Group (+9.55%).

On the losers’ chart, McNichols fell by 10% to close at ₦7.20 per share, followed by The Initiates Plc (-9.91%), Learn Africa (-9.69%), Zichis Agro Allied (-7.93%), and May & Baker Nigeria (-6.60%).

Trading activity slowed, with total volume declining 30.2% to 497.09 million units, valued at ₦31.62bn, across 74,129 deals.

Access Holdings topped the activity chart with 61.29m shares worth ₦1.53bn, followed by Zenith Bank (37.93m shares, ₦4.99bn), Fidelity Bank (35.80m shares, ₦851m), Japaul Gold (24.67m shares, ₦90.9m), and Tantalizers (22.79m shares, ₦103m).