NGX Extends Rally as Investors Add N598bn in One Session

The Nigerian Exchange sustained its bullish momentum, with investors extending gains as the NGX All-Share Index (ASI) advanced by 0.56% to close at 166,771.95 points.

The rally lifted the market’s year-to-date return to 7.17% from 6.57% in the previous session, while total market capitalisation expanded by ₦598.41 billion to ₦106.78 trillion.

Investor interest remained selective, with strong buying in a handful of high-performing stocks offsetting losses recorded in others. Gains of up to 9.98% in top advancers underpinned the market’s positive close, despite notable selloffs of as much as 6.52% in some laggards.

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Market breadth stayed firmly positive at 1.71x, reflecting stronger investor optimism, as 48 stocks closed higher against 28 decliners, while the rest ended flat. The session also saw a standout gainer rise by the maximum 10.00%, highlighting pockets of aggressive risk appetite.

However, trading activity moderated as investors positioned cautiously. Transaction value declined by 32.64%, while volume traded fell by 11.03%. Still, activity remained concentrated, with the most traded stock by volume recording 53.41 million shares, while the most traded by value accounted for ₦8.99 billion in transactions.

On the NASD OTC Market, sentiment was largely flat. The NASD Securities Index edged up marginally by 0.003% to 3,678.25 points, with market capitalisation also inching higher to ₦2.20 trillion. Trading activity weakened significantly, as volume and value dropped by 60.31% and 71.62%, respectively.

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Despite the muted turnover, the OTC market recorded a notable 9.08% gain in its leading advancer, while the lone decliner shed 10.13%, reflecting thin but volatile trading conditions.

Overall, the equities market closed on a positive note, reinforcing investor confidence and extending the recent uptrend, even as participants remained selective amid softer trading volumes.