Bulls persist at NGX as investors earn N251bn

The local equities market sustained its positive momentum on Tuesday, as the All-Share Index (ASI) gained 0.36 per cent to close at 112,427.48 basis points, driven by renewed interest in select large-cap stocks.

At the Nigerian Exchange Limited (NGX), tradings sustained its bullish momentum, as gains in Dangote Cement, First Holdings Company and Guaranty Trust Holding Company drove the market as their share prices appreciated by 2.3 per cent, 8.8 per cent and 2.1 per cent, respectively.

Consequently, the Month-to-Date and Year-to-Date returns settled at +0.6 percent and +9.2 percent, respectively.

This upward movement added approximately N251 billion to the market capitalization, which now stands at N70.89 trillion.

Market breadth was positive, with 36 gainers outpacing 32 losers, reflecting broad-based bullish sentiment across sectors.

On the performance board, leading the gainers were Honeywell Flour Mills, SCOA Nigeria, and SFS REIT highlighting isolated strength in mid- and small-cap counters with 10 percent respective appreciation in shared value.

Conversely, Seplat Energy, a key player in the oil and gas sector, topped the list of laggards haven’t Ng lost 10 percent from its share value.

Sector performance was largely positive, with the Banking, Insurance, Oil & Gas, and Industrial Goods sectors all recording modest gains by 0.67 percent, 0.93 percent, 0.92 percent and 0.21 percent, respectively.

However, the Consumer Goods sector showed mixed performance, declining by 0.04 percent and 0.70 percent across its sub-indices.

Market activity was notably strong, supported by the index’s gain. Total volume, value, and number of deals increased by 1.29 percent, 21.84 percent and 62.35 percent, respectively.

Overall, 622.64 million shares valued at N16.12 billion were exchanged in 17,044 deals.

Fidelity Bank was the most traded stock by volume at 108.17 million units, while Guaranty Trust Holding Company was the most traded stock by value at N2.80 billion.

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