NGX Rallies as Investors Pocket N954bn on Broad-Based Buying
The Nigerian Exchange (NGX) closed the week on a strong footing on Friday, extending its bullish run as equity investors gained about N954 billion, driven by sustained buying interest across key stocks.
The NGX All-Share Index (ASI) advanced 0.93 per cent to close at 162,298.08 points, lifting the market capitalisation to N103.78 trillion from the previous session. The performance capped a positive week for the local bourse, underpinned by renewed investor confidence and positioning ahead of earnings releases.
Market sentiment remained firmly positive, as buying interest in heavyweights such as MTN Nigeria (+7.63 per cent), Dangote Sugar (+9.23 per cent), and WAPCO (+2.04 per cent) outweighed pockets of profit-taking in select stocks. Market breadth closed positive at 1.68x, with 47 gainers outnumbering 28 losers, underscoring the broad nature of the rally.
On the gainers’ table, IMG, MCNICHOLS and SCOA topped the chart with 10.00 per cent appreciation each, while ALEX (-9.91 per cent) and AUSTINLAZ (-9.83 per cent) led the decliners.
Trading activity reflected mixed dynamics. Total volume traded dipped 3.25 per cent to 624.08 million shares, while transaction value climbed 12.61 per cent to N18.52 billion, suggesting increased participation in higher-priced stocks. Deal count eased marginally by 1.34 per cent to 43,816 transactions.
ETRANZACT led the volume chart with 73.0 million units, accounting for 11.7 per cent of total volume, while UNILEVER dominated the value chart with trades worth N1.8 billion, representing 9.7 per cent of total turnover.
Sectoral performance closed largely bullish, with four indices ending in positive territory. The Industrial Goods index led gains, rising 0.44 per cent, followed by the Consumer Goods index, which added 0.20 per cent on strong demand for WAPCO and Dangote Sugar.
The Insurance (+0.06 per cent) and Commodity (+0.02 per cent) indices also closed higher, supported by gains in MANSARD (+4.50 per cent) and OKOMUOIL (+0.17 per cent).
On the downside, the Oil and Gas index slipped 0.15 per cent, weighed down by OANDO (-1.60 per cent), while the Banking index eased 0.13 per cent following selloffs in FIRSTHOLDCO (-1.91 per cent).
Overall, the session reinforced bullish investor sentiment on the NGX, with strong price appreciation in bellwether stocks pushing market capitalisation deeper into record territory and setting a positive tone for the new trading week.
