The Nigerian Exchange Limited (NGX) continued its bullish momentum as investors recorded substantial gains, adding N314 billion to their portfolios on Thursday. This positive outcome saw the market capitalization, which opened at N56.133 trillion, climb by 0.56 percent to close at N56.447 trillion.
Similarly, the All-Share Index (ASI) increased by 545 points or 0.56 percent, closing at 98,230.92 points, compared to the previous session’s close of 97,685.64 points.
The market’s bullish run was primarily driven by sustained investor interest in key stocks such as Geregu Power Plc, FBN Holdings, Access Corporation, Fidelity Bank, Oando Plc, and United Capital. These upward movements contributed to an impressive Year-To-Date (YTD) return, which rose to 31.37 percent.
Market breadth also remained positive, with 28 stocks advancing while 26 declined, reflecting the overall strength of the trading session.
Gainers and Losers
Leading the gainers’ chart was Sky Shelter Fund Plc, with a significant 9.99 percent increase, closing at N179.45 per share. Honeywell Flour followed closely, rising by 9.96 percent to close at N5.41. Meyer Plc also recorded a 9.95 percent gain, closing at N6.41 per share, while Academy Press increased by 9.89 percent to close at N2.89. Caverton Offshore Support Group rounded out the top gainers with a 9.68 percent rise, closing at N3.06 per share.
On the flip side, Northern Nigeria Flour Mills led the losers, dropping by 10 percent to close at N39.15 per share. Berger Paints trailed with a 9.81 percent decrease, closing at N21.60. Deep Capital Management and Trust Plc saw a decline of 9.68 percent, closing at 84k per share. Livestock Feeds and Omatek also experienced losses, both dropping by 9.09 percent to close at N2.40 and 65k per share, respectively.
Market Activity and Turnover
While the market saw gains, the overall trade turnover was lower compared to the previous session. The value of transactions dropped by 19.49 percent, with a total of 361.30 million shares valued at N7.57 billion being exchanged in 9,627 deals. This was a slight dip from the previous session, where 471.30 million shares valued at N9.40 billion were traded across 12,061 deals.
Despite the reduction in trade volume, JapaulGold continued to lead the activity chart in terms of volume for the third consecutive session, trading 64.04 million shares. Geregu, on the other hand, dominated the value chart, with transactions worth N1.34 billion, highlighting investor confidence in the stock.