Equity Investors Gain N1.70trn as NGX Rallies 139bps
Equity investors gained approximately N1.70 trillion in a single session as the All-Share Index (ASI) of the Nigerian Exchange Limited advanced by 1.39 per cent to close at 193,073.57 points.
Market capitalisation rose to N123.93 trillion, while year-to-date return strengthened to 24.07 per cent from 22.37 per cent, reinforcing bullish sentiment across the market.
The rally was driven by strong price appreciation in MTN Nigeria Communications Plc (+4.00 per cent), Presco Plc (+7.19 per cent) and Stanbic IBTC Holdings Plc (+9.52 per cent), which outweighed losses in Oando Plc (-3.23 per cent), Dangote Sugar Refinery Plc (-1.68 per cent) and AXA Mansard Insurance Plc (-7.92 per cent).
Despite the gains, trading activity softened, with volume traded declining by 75.51 per cent and total value exchanged dropping by 37.82 per cent.
Japaul Gold & Ventures Plc led the activity chart by volume with 80 million units traded, while Guaranty Trust Holding Company Plc recorded the highest value of transactions at N6.20 billion.
Market breadth remained firmly positive at 2.00x, with 52 gainers against 26 losers. Deep Capital Management & Trust Plc appreciated by 10.00 per cent to lead the advancers, while Multiverse Mining and Exploration Plc shed 10.00 per cent to top the decliners’ chart.
In the over-the-counter segment, the NASD OTC Securities Exchange closed lower as its Security Index declined by 0.15 per cent to 3,908.67 points, with market capitalisation settling at N2.34 trillion.
However, activity levels on the NASD improved sharply, with volume surging by 2,787.11 per cent and value traded rising by 315.21 per cent.
