Investors gain N1.19trn as NGX ASI rises 1.22%
BY TEMITOPE ADEBAYO
The Nigerian Exchange maintained its bullish momentum this week, with the NGX All-Share Index (ASI) advancing by 1.22 per cent to close at 121,257.69 points. This upward movement translated to a market capitalisation gain of N1.19 trillion, pushing the total value to N76.76 trillion and raising the year-to-date return to +17.81 per cent.
The market rally was fuelled by strong buying interest in key stocks, including OANDO and DANGSUGAR, which gained 10.00 per cent apiece. ZENITHBANK climbed 9.43 per cent, while BUACEMENT added 8.70 per cent, helping to offset losses in GTCO (-0.72 per cent), WAPCO (-4.10 per cent), NESTLE (-3.33 per cent), and FCMB (-1.52 per cent).
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Market activity was mixed as total trading volume dipped by 0.81 per cent, while transaction value rose by 10.41 per cent. The number of deals increased by 3.10 per cent. FIDELITYBK led the volume chart with 82.98 million shares traded, while ZENITHBANK topped value transactions with N3.45 billion.
Market breadth remained positive at 3.71:1, with 63 gainers led by DANGSUGAR, against 15 laggards topped by UPL, which declined 6.25 per cent.
In contrast, the NASD OTC market closed lower. The NASD Securities Index (NSI) fell by 0.37 per cent to 3,308.2 points, with market capitalisation shedding the same margin to N1.94 trillion. Trading activity dropped sharply, as volume declined by 96.95 per cent and value plunged 98.60 per cent, although deal count rose by 48 per cent to 37, signalling ongoing investor interest despite weak sentiment.
