NGX Records 0.49% Gain as Investors Add N321bn After Holiday

The Nigerian Exchange (NGX) resumed trading on a positive note Tuesday following the public holiday, with the All-Share Index advancing by 49 basis points as investors gained ₦321 billion from the latest market rally.

The local bourse continued its upward momentum, driven primarily by strategic bargain hunting in recently undervalued medium- and large-cap stocks, including INTBREW, JAPAULGOLD, UCAP, and UBA, among others.

The NGX All-Share Index gained 511.17 points, representing a 0.49% increase, to close at 104,744.98. Despite this positive performance, overall market activity declined, with both trading volume and value decreasing by 6.11% and 8.99%, respectively.

According to Atlas Portfolios Limited, approximately 353.28 million units valued at ₦7,195.27 million exchanged hands across 13,734 deals. ACCESSCORP dominated the activity chart by volume, accounting for 10.97% of total trades, followed by FIDELITYBK (9.82%), CHAMS (8.43%), UNIVINSURE (7.90%), and ZENITHBANK (6.74%).

In value terms, ZENITHBANK emerged as the most traded stock, representing 14.96% of the total transaction value on the exchange.

The day’s top performer was INTBREW, which appreciated by 10.00%, followed closely by NB (+9.94%), TIP (+9.89%), JAPAULGOLD (+9.79%), CORNERST (+9.65%), and SMURFIT (+9.52%). In total, 40 stocks recorded price gains during the session.

Conversely, 20 stocks depreciated, with INTENEGINS leading the decliners at -9.46%. Other notable losers included FTNCOCOA (-7.41%), STERLINGNG (-4.72%), FIRSTHOLDCO (-3.46%), OMATEK (-3.33%), and DANGSUGAR (-0.90%).

The positive market breadth of 40 gainers versus 20 losers was reflected in sectoral performance, with four of the five major market sectors closing higher. The consumer goods sector led with a 2.50% advance, followed by insurance (+2.16%), banking (+0.71%), and industrial (+0.09%). Only the oil & gas sector recorded a marginal decline of 0.11%.

By the close of trading, the NGX’s total market capitalisation had increased by ₦321.21 billion, or 0.49%, to settle at ₦65.82 trillion.