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  • Nigerian Stock Market Rises as Investor Value Grows by N19 Billion
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Nigerian Stock Market Rises as Investor Value Grows by N19 Billion

ovanews 5 months ago 2 min read
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Nigerian Stock Market Rises as Investor Value Grows by N19 Billion

The Nigerian Exchange (NGX) all-share index recorded modest gains today, with equities investors seeing their portfolio value increase by over N19 billion.

The market rebounded from yesterday’s losses to finish on a positive note, with key performance indicators advancing by 0.03%.

This upward movement was fueled by investor interest in several mid and high-capitalisation stocks. Notable gainers included UNILEVER (9.65%), INTBREW (4.36%), WEMABANK (3.91%), ACCESSCORP (3.13%), JAIZBANK (1.69%), UBA (0.80%), FIDELITYBK (0.55%), NB (0.31%), STERLINGNG (0.19%), and TRANSCORP (0.12%), among others.

The day’s recovery primarily stemmed from renewed buying interest in previously undervalued medium and large-cap stocks, particularly in the consumer goods and financial services sectors. According to NGX data, the All-Share Index rose by 30.40 basis points, representing a 0.03% increase to close at 104,560.02.

Market activities showed mixed results, with total trading volume decreasing by 13.87%, while the total value of transactions increased by 3.35%. Atlass Portfolios Limited reported that approximately 368.77 million units valued at ₦10,871.35 million changed hands across 13,228 deals.

FIDELITYBK led the volume chart, accounting for 12.88% of total shares traded, followed by ACCESSCORP (7.62%), ZENITHBANK (6.28%), UBA (5.97%), and FCMB (5.65%).

In value terms, MTNN dominated trading, representing 25.25% of the total value of all transactions. ABBEYBDS topped the gainers’ list with a price increase of 9.94%, followed by UNILEVER (9.65%), LEARNAFRCA (8.33%), NSLTECH (7.41%), CONHALLPLC (7.27%), and CUSTODIAN (5.95%), along with seventeen other stocks.

Twenty-nine stocks declined in value. NNFM experienced the largest drop at 9.97%, with other significant losers including CAVERTON (9.06%), NGXGROUP (8.36%), HONYFLOUR (4.78%), UCAP (4.28%), and FIRSTHOLDCO (2.40%).

Despite the overall market gain, market breadth finished negative with 23 gainers versus 29 losers. Sector performance was mixed, with consumer goods and insurance sectors gaining 0.72% and 0.15% respectively. Industrial and oil & gas sectors remained unchanged, while the banking sector declined by 0.11%.

Overall, market capitalisation increased by ₦19.10 billion to close at ₦65.70 trillion.

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