The Nigerian Exchange Limited (NGX) showcased a robust performance in its latest trading session, with the NGX All-Share Index surging by 259.90 points to reach 104,647.37 points, marking a notable improvement from its previous figure of 104,387.47 points.
Investor sentiment remained positive, as reflected in the market’s upward trajectory, which translated into a substantial gain of N146.95 billion in market capitalization. This surge underscored the growing confidence among investors toward equity markets, with the total market capitalization closing at N59.17 trillion.
Join our WhatsApp ChannelThe financial sector emerged as a key driver of this positive momentum, with notable institutions witnessing an uptick in their stock values.
According to market data, NSLTECH led the pack among 34 advancing stocks, with a remarkable 10% increase in its stock value. Conversely, IKEJAHOTEL and PZ faced a decline of 10% each, positioning them as the least favorable performers among the 14 stocks that saw a dip.
In terms of trading volume, ACCESSCORP dominated the day’s activity, while GTCO stood out for its value traded, showcasing the robustness of market operations.
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The trading session saw a surge in the number of deals, reaching 9,574 for the day, indicating heightened market activity compared to the previous session.
Looking at the market indices, the NGX All-Share Index closed at 104,647.37 points, with a day change of +0.25%. The day’s lowest point stood at 104,437.8 points, while the highest point reached 104,993.21 points. Year-to-date performance remained strong at +39.95%.
In terms of top gainers, NSLTECH, JULI, DAARCOMM, TIP, and NEM showcased significant increases in their stock values. On the other hand, IKEJAHOTEL, PZ, ABBEYBDS, SOVRENINS, and INTENEGINS were among the top losers for the day.
The trading session witnessed a remarkable surge in the total volume of shares traded, with an increase of 168.37 million shares compared to the previous session. ACCESSCORP, FBNH, GTCO, ZENITHBANK, and FIDELITYBK emerged as the top traded stocks.
In addition, the value of shares traded experienced a significant uptick, escalating by 53.32% to settle at N14.24 billion. Notably, GTCO, FBN Holdings, Access Holdings, UBA, and Zenith Bank contributed significantly to the day’s traded value.
Overall, the positive momentum in the NGX market underscores the resilience and attractiveness of Nigeria’s equity market, reflecting the confidence and optimism among investors.
Emmanuel Ochayi is a journalist. He is a graduate of the University of Lagos, School of first choice and the nations pride. Emmanuel is keen on exploring writing angles in different areas, including Business, climate change, politics, Education, and others.
