The Nigerian Exchange Limited (NGX) witnessed a robust rally on Tuesday, continuing its bullish momentum as market capitalisation surged by N764 billion. This uptick was driven by heightened investor interest in blue-chip and consumer goods stocks. By the end of trading, the All-Share Index climbed by 1,211.17 points (1.02%), settling at 119,790.82, up from the previous session’s 118,579.65. The market capitalisation similarly rose from N74.8 trillion to N75.6 trillion.
Out of 130 equities traded, 61 recorded gains while 23 declined. Notably, Okomu Oil Palm Plc led the gainers with a 10% increase, closing at N748 per share. Other top-performing stocks included Beta Glass Plc, Dangote Sugar Refinery Plc, UPDC Plc, and Champion Breweries Plc, all of which posted gains close to 10%. Computer Warehouse Group Plc also saw a strong performance with a 9.90% rise.
On the flip side, Daar Communications Plc topped the losers’ chart with a 7.81% dip, followed by Prestige Assurance Plc and Industrial and Medical Gases Nigeria Plc. Other declining stocks included NPF Microfinance Bank Plc, Aradel Holdings Plc, and First Bank of Nigeria Holdings Plc, each shedding between 3.9% and 4.3%.
Trading activity was notably higher, with 756.5 million shares exchanged across 22,206 deals, amounting to a turnover of N23.29 billion. This marks a 16% increase in trading volume and a 9% rise in turnover compared to the previous day. Royal Exchange Plc led in trade volume, followed by Fidelity Bank Plc, Access Holdings Plc, and Zenith Bank Plc.
Sector-wise, performance was largely positive. The Industrial Goods Index led with a 3.13% gain, while the Consumer Goods Index rose by 2.01%. Other indices showing notable appreciation included the Top 30 Index (1.26%), Pension Index (1.16%), Premium Index (1.03%), and Main Board Index (1.02%). The strong start to the week, which began with a N279 billion market cap gain, set the tone for continued investor optimism.
Source: Punch