Equities Investors Gain N880bn As NGX Maintains Upward Momentum
Investors in the Nigerian Exchange (NGX) recorded significant gains on Wednesday as the equities market sustained its bullish run, adding N880 billion to market capitalisation.
The All-Share Index (ASI) rose by 0.78 per cent to close at 178,184.35 points, while market capitalisation advanced to approximately N114.4 trillion, driven by sustained bargain hunting across major sectors.
Market breadth closed positive at 1.58x, with 49 gainers against 31 losers. Leading the gainers’ chart were NESTLE, FTGINSURE, CONHALLPLC, and MEYER, each appreciating by 10.00 per cent. On the flip side, HONYFLOUR, which declined by 9.70 per cent, NEIMETH by 9.15 per cent, and TIP by 5.81 per cent, topped the losers’ list.
Trading activity showed a decline in volume and value compared to the previous session, with 939.15 million shares exchanged at a value of N34.03 billion across 61,279 deals. However, trading data also indicated that 1.30 billion units of shares worth N50.43 billion were transacted in 58,965 deals, highlighting mixed activity levels.
TANTALIZER led the volume chart with 85.32 million units, while ARADEL dominated the value chart with trades worth N2.98 billion. Sectoral performance was mixed. The Banking index gained 1.58 per cent, Insurance rose 1.53 per cent, Consumer Goods advanced 1.28 per cent, and Oil & Gas edged up 0.02 per cent. In contrast, the Industrial sector dipped 0.02 per cent, while Commodities closed flat.
Top performers included CONHALLPLC, FTGINSURE, NESTLE, MEYER, and CAP, while HONYFLOUR, NEIMETH, TIP, RTBRISCOE, and STERLINGNG recorded the steepest losses.
Analysts note that the rally reflects strong investor confidence, particularly in the Banking, Insurance, and Consumer Goods sectors, though caution remains over possible profit-taking in subsequent sessions.
