Trading activity on the Nigerian Exchange (NGX) bounced back strongly as investors traded 1.4 billion shares, representing a 161.79 per cent increase, while the market’s total capitalisation climbed by ₦100 billion to close at ₦157.15 trillion.
The market’s All-Share Index also edged up by 0.06 per cent to 242,378.13 points, supported by gains in major stocks including Seplat Energy, Nigerian Exchange Group, GTCO, Access Holdings and Transcorp. Despite the modest index gain, overall market sentiment remained bearish, with 29 stocks recording losses compared with 23 gainers.
Seplat Energy emerged as the day’s biggest gainer, rising by 10 per cent to ₦14,907.80 per share. Japaul Gold & Ventures gained 9.83 per cent to ₦2.57, while Tantalizer advanced 8.29 per cent to ₦3.79. Secure Electronic Technology and Access Holdings also recorded gains of 7.94 per cent and 5.66 per cent respectively.
However, analysts warned that the positive session may not signal a sustained market recovery. Cowry Asset Management Limited expects renewed downward pressure as investors continue to sell positions in the banking and insurance sectors ahead of the Dangote Refinery IPO, scheduled to begin at the start of the coming week.
Meanwhile, total market activity stood at ₦27.14 billion across 46,218 deals. Fortis Global Insurance dominated trading volume with 1.031 billion shares worth ₦1.49 billion, followed by Mutual Benefits Assurance with 59.55 million shares. Access Holdings, GTCO and Zenith Bank also recorded significant trading activity, highlighting continued investor interest despite the mixed market outlook.
source: Leadership
