The Nigerian Exchange Limited (NGX) recorded a significant boost in market capitalisation, gaining N966 billion during a four-day trading week shortened by Easter holidays. The All-Share Index climbed by 1.46% to close at 105,752.61 points, while the overall market capitalisation reached N66.465 trillion. This upward trend was largely supported by strong investor sentiment and gains in major banking and consumer goods stocks, showing renewed market optimism.
Sectoral data revealed that the financial services sector maintained its dominant position, contributing over 68% of the total trading volume and more than half the value. Major contributors included Fidelity Bank, Access Holdings, and GTCO, whose combined activity accounted for over 43% of total volume traded. The ICT and consumer goods sectors followed, reflecting a well-rounded market performance.
Investor confidence was evident in the broad-based gains across equities, with 64 stocks appreciating in value, up from 31 the previous week. Top gainers included International Breweries, Nascon Allied Industries, and Africa Prudential, all posting double-digit growth. However, the market also saw notable losers such as VFD Group, which declined sharply after corporate actions, and Dangote Cement, which experienced profit-taking.
Outside equities, the Exchange-Traded Funds (ETF) market saw a notable rise in activity, while the bond market recorded a slight dip in turnover. Meanwhile, the Federal Government expanded its bond listings, adding nearly 424 million new units of its April 2029 and May 2033 bonds, a move that reflects ongoing efforts to deepen the local debt market. The overall momentum suggests growing investor participation and confidence across asset classes.
Source: Punch