The Nigerian Exchange Limited (NGX) maintained its positive momentum on Wednesday, with investors raking in an impressive N1.45 trillion gain as market capitalisation climbed to N97.6 trillion at the close of trading. The bullish run was driven by renewed investor interest in blue-chip companies such as Dangote Cement, NASCON Allied Industries, and Transcorp Hotels, alongside strong performances from Skyway Aviation Handling Company and UPDC Real Estate Investment Trust.
Trading activity reflected heightened optimism across the market, with 589.43 million shares worth N23.97 billion exchanged in 28,456 deals — representing a 7 per cent rise in volume, 17 per cent increase in turnover, and a 4 per cent boost in deal count compared to the previous session. Out of 130 equities traded, 32 gained while 30 recorded losses, underscoring a largely positive market sentiment.
Aso Savings & Loans topped the gainers’ chart with a 10 per cent jump to N0.55 per share, signaling continued investor appetite for low-priced financial stocks. Skyway Aviation followed closely with a 9.99 per cent rise to N99.05 per share, buoyed by investor confidence in the aviation services sector. Property-focused UPDC REIT also gained 8.16 per cent to N7.95 per share, while NASCON appreciated by 6.8 per cent to N110.00 per share, supported by solid fundamentals and growth potential.
Dangote Cement remained a key market mover, rising 6.5 per cent to close at N639.00 per share, reflecting optimism around the company’s export strategy and consistent dividend policy. Transcorp Hotels also advanced 6.26 per cent to N174.90 per share as investors bet on higher occupancy and tourism-driven revenue in the coming months. Conversely, The Initiates Plc led the losers’ chart, shedding 5.73 per cent to close at N13.00 per share amid profit-taking activities, followed by Legend Internet and Royal Exchange Plc, which dipped 5.69 per cent and 4.76 per cent, respectively.
Fidelity Bank dominated trading volume with 94.7 million shares, followed by GTCO (79.5 million), Access Holdings (59.4 million), and Zenith Bank (24 million). Market analysts attributed the sustained rally to growing investor confidence in high-cap stocks and optimism ahead of fourth-quarter corporate earnings releases. The NGX’s strong close, analysts say, signals a potential continuation of the bullish trend as investors position for year-end returns.
source: punch