The Nigerian Exchange (NGX) continued its bullish run as the market capitalisation surged past N75 trillion, signaling strong investor confidence. The All Share Index (ASI) climbed by 1,211.17 points, marking a 1.02% increase to close at 119,790.82 points. Consequently, the market’s total capitalisation rose by N764 billion, closing at N75.576 trillion.
This market gain was largely attributed to price appreciations in several medium and large-cap stocks. Key contributors included Okomu Oil, Presco, Beta Glass, Northern Nigeria Flour Mills (NNFM), and Lafarge Africa. Analysts at Afrinvest Limited expressed optimism that the bullish trend would likely persist, driven by continued upbeat investor sentiment.
Market breadth remained decisively positive, with 61 stocks recording gains as opposed to 23 decliners. Top gainers like Beta Glass, Dangote Sugar Refinery, Okomu Oil, and UPDC each rose by 10%. Other notable climbers included Champion Breweries, Ellah Lakes, and CWG, which all posted close to double-digit growth in share value.
On the downside, Daar Communications led the list of losers with a 7.81% decline, followed by Prestige Assurance and Industrial and Medical Gases Nigeria. Other notable decliners were NPF Microfinance Bank and Aradel Holdings, which dropped by over 4% each.
Trading activity saw a significant boost, with the total volume of shares traded increasing by 35.27% to 868.68 million units valued at N23.709 billion across 22,207 deals. The most active stocks included LivingTrust Mortgage Bank, Royal Exchange, Fidelity Bank, Access Holdings, and Zenith Bank, highlighting robust investor participation across banking and financial services.
Source: Leadership