The Nigerian Exchange (NGX) saw a positive trading session on December 18, 2024, with the equity market gaining N78 billion in value. This growth was driven by significant increases in MRS Oil Nigeria, Wapic Insurance, and Caverton Offshore Support Group. The All-Share Index advanced by 128.31 points, closing at 100,050.94 points, marking a year-to-date gain of 33.8%. The market capitalization reached N60.7 trillion.
MRS Oil Nigeria led the gainers with a 10% rise to N145.20 per share, followed by Wapic Insurance, which also rose by 10%, closing at N1.54. Caverton Offshore Support Group gained 9.68%, closing at N2.38. Despite these gains, some stocks experienced losses, with Cutix Plc leading the decline, falling by 10% to N2.25 per share.
Trading volume was 477.88 million shares in 9,578 deals, valued at N21.39 billion. The insurance and oil & gas sectors showed strong performance, with the Insurance Index rising by 1.56%, and the Oil & Gas Index edging up by 0.06%. The banking sector also saw gains, while the Industrial Index experienced a slight dip.
