Guinness, CILEASING, LIVINGTRUST Lead 10% Surge as NGX All-Share Index Gains 0.21%

The Nigerian Exchange (NGX) closed higher on Wednesday, September 11, as the All-Share Index (ASI) climbed 300.49 points to settle at 140,655.8. This 0.21% uptick from the previous day’s 140,365.4 puts the benchmark index within sight of the 141,000-point mark, reflecting renewed investor confidence in blue-chip stocks.

Market breadth was positive, with Guinness Nigeria Plc, C&I Leasing Plc (CILEASING), and LivingTrust Mortgage Bank Plc topping the advancers’ chart after each rallied by 10%. Other notable gainers included eTranzact (+9.68%) and Regal Insurance (+9.42%). However, NEM Insurance and Mansard Insurance emerged as the day’s laggards, shedding 9.94% and 4.76%, respectively.

Despite the uptick in prices, overall activity slowed. Total volume traded dropped to 378 million shares from 767 million shares the previous session. Japaul Gold led the activity table with 42 million shares, while Zenith Bank and UBA followed closely with 27.9 million and 27.2 million shares, respectively. AccessCorp and Nigerian Breweries rounded out the top five most actively traded stocks.

In terms of value, Zenith Bank dominated with N1.8 billion worth of shares changing hands, trailed by Nigerian Breweries (N1.29 billion), UBA (N1.2 billion), Guinness (N1.23 billion), and MTN (N834.2 million). Among the SWOOTs (stocks worth over one trillion naira), ARADEL added 0.04% and Nigerian Breweries gained 0.07%. FUGAZ banks also had a mixed session, with UBA up 2.34%, Zenith Bank up 1.52%, GTCO up 0.27%, and FirstHoldCo up 1.64%, while AccessCorp dipped 0.19%.

Analysts say the ASI appears to be consolidating after a recent pullback to 138,157.1 on September 3. If bullish momentum in select large-cap stocks persists, the index could extend its recovery and break above the 141,000-point level in the coming sessions. Investors are watching closely to see whether the market’s resilience can hold amid slower trading volumes.

source: nairametrics