The Nigerian Exchange Limited (NGX) saw a positive turnaround yesterday, with its market capitalization rising by N131 billion, ending a six-day decline. The NGX All-Share Index increased by 0.22%, closing at 97,123.61 points, as the market capitalization reached N58.852 trillion. The recovery was largely driven by gains in large and mid-cap stocks, including Conoil, United Bank for Africa (UBA), Julius Berger, Zenith Bank, and PZ Cussons Nigeria.
Market sentiment was also positive, as 26 stocks posted gains, while 21 recorded losses. Conoil led the gainers, rising by 9.93% to close at N208.10, followed closely by John Holt, which gained 9.92%. Other notable gainers included Eunisell Interlinked and UBA, both up by 9.87%, and PZ Cussons Nigeria, which added 8.48% to its value.
The total trading volume surged by 194.37%, reaching 3.602 billion units, with a total value of N25.57 billion across 10,679 deals. Sovereign Trust Insurance saw the most activity, with 2.5 billion shares traded, followed by NEM Insurance and UBA. On the losing side, Oando, DAAR Communications, and Regency Alliance Insurance led the declines, with losses ranging from 4.26% to nearly 10%.
