Nigerian Stock Market Maintains Uptrend for Second Consecutive Session
The Nigerian Exchange (NGX) sustained its positive momentum for the second straight session this week, as investor sentiment remained upbeat.
Market data showed that the All-Share Index rose by 0.23%, closing at 141,761.36 points, while market capitalisation increased by ₦203.48 billion to settle at ₦89.69 trillion, pushing the year-to-date (YTD) return to 37.73%.
Analysts attributed the bullish performance to renewed demand in key banking and brewing stocks, particularly GTCO, INTBREW, and ZENITHBANK, despite a slight dip in overall trading activity.
The NGX report indicated that total trading volume grew by 2.43% to 585 million units, with the total value of trades reaching ₦12 billion across 27,667 deals.
Although market breadth remained negative, sustained interest in major stocks helped maintain the rally. Price appreciation in several medium- and large-cap equities also contributed to the positive trend.
FCMB dominated the activity chart in terms of volume, accounting for 14.81% of all trades, followed by VERITASKAP (11.36%), AIICO (6.00%), NSLTECH (4.53%), and MBENEFIT (3.90%). Meanwhile, WAPCO led in value, representing 12.72% of the total traded amount.
On the gainers’ list, NCR advanced the most with a 10% increase, followed by BERGER (+9.06%), BETAGLAS (+8.16%), CADBURY (+8.04%), and SOVRENINS (+7.55%). CHAMS also gained 6.92%, alongside 20 other stocks.
Conversely, LEGENDINT topped the losers’ table after shedding 10%, trailed by CUTIX (-8.97%), FTNCOCOA (-7.29%), ELLAHLAKES (-3.16%), JAPAULGOLD (-1.75%), and WEMABANK (-0.43%).
At the close of trade, market breadth reflected 26 gainers against 33 losers. Sector-wise, banking stocks gained 0.73%, consumer goods rose 0.48%, oil and gas advanced 0.48%, and industrial goods edged up 0.09%. However, the insurance index dipped 0.18%, while the commodities segment was flat.
