NGX Hits N77 Trillion as Investors Gain N212bn in Bargain-Hunting Rally
The Nigerian Exchange (NGX) reached approximately ₦77 trillion on Wednesday as equity investors recorded gains of about ₦212 billion during a sixth consecutive day of bargain-hunting activity.
Market performance indicators rose by 28 basis points, while the local exchange maintained its positive trajectory. Year-to-date returns improved to 18.5% following six straight sessions of gains.
Several stockbrokers attributed the continued rally to robust purchasing activity across major market sectors, especially within the financial and industrial categories.
The market index climbed by 335.74 points to reach a record high of 121,989.67, marking a 0.28% increase. However, trading activity declined, as both the total volume and value of completed transactions fell by 11.84% and 19.88%, respectively.
Market analysts at Atlass Portfolio Limited reported that approximately 888.70 million units worth ₦15.61 billion changed hands across 24,303 transactions.
JAPAULGOLD dominated volume activity with 15.48% of total trading volume, followed by ACCESSCORP (9.36%), AIICO (5.64%), UNIVINSURE (4.73%), and ELLAHLAKES (3.60%), completing the top five.
ACCESSCORP led value-based trading with 11.86% of the total transaction value on the exchange. CHAMS, CILEASING, ENAMELWA, REDSTAREX, ELLAHLAKES, and OMATEK topped the gainers’ list with 10.00% price increases each.
Additional gainers included THOMASWY (+9.96%), SUNUASSUR (+9.95%), MANSARD (+9.95%), ACADEMY (+9.93%), FTNCOCOA (+9.93%), and 45 other stocks. Twenty-one stocks experienced declines, according to broker reports. LEGENDINT posted the largest loss at -8.05%. Other declining stocks included ETERNA (-4.65%), ETRANZACT (-4.44%), INTBREW (-4.14%), FIRSTHOLDCO (-4.01%), and WEMABANK (-2.74%).
Trading concluded with positive market breadth, showing 57 advancing stocks versus 21 declining ones. Sectoral performance was generally positive, with the insurance sector leading at +2.48%, the industrial sector gaining +0.97%, and the banking sector adding +0.45%. The consumer goods and oil & gas sectors declined by -0.13% and -0.05%, respectively.
Total market capitalisation increased by ₦211.84 billion to ₦76.97 trillion, representing a 0.28% gain.
