By Dickson Pat
Nigerian Exchange ,NGX, sustained its positive momentum, hitting a new historic high of N70.89 trillion; the equities market capitalisation appreciated by about N260 billion. The sustained bargain hunting lifted the All-Share index to 112,427 points, up by 37 basis points amidst renewed interest in some bellwether stocks.
Driving the uptrend, the market recorded positive price appreciation in DANGCEM ,+2.27%, alongside strong performances in FIRSTHOLDCO ,+8.82%, and INTBREW ,+3.11%. The upward trend was driven by continued buying interest in medium- and large-scale stocks, including HONYFLOUR, FIRSTHOLDCO, and DANGCEM, among others.
Stockbrokers said the bullish pattern highlights strong investor confidence in the equities market. The market index increased by 411.53 basis points to close at a new all-time high of 112,427.48 points, representing a 0.37% increase from the previous session.
Trading activities were up as the total volume and total value of all trades conducted in the stock market increased by 20.21% and 60.12%, respectively. Brokers said approximately 622.64 million units valued at ₦16,123.75 million were transacted across 17,044 deals.
In terms of volume, FIDELITYBK led the activity chart, accounting for 17.44% of the total volume of all trades conducted on NGX, followed by LEGENDINT ,9.83%, UBA ,8.99%, GTCO ,6.65%, and ACCESSSCORP ,5.56%, rounding out the top five.
GTCO emerged as the most traded stock in value terms, accounting for 17.48% of the total value of all trades on the exchange. HONYFLOUR and SCOA topped the advancers’ chart with a price appreciation of 10.00 percent each, trailed by IMG ,+9.96%, INTENEGINS ,+9.82%, MAYBAKER ,+9.75%, ELLAHLAKES (+9.74%), VERITASKAP ,+9.38%, and twenty-eight others.
Thirty-one stocks depreciated, according to trading records in the local bourse. CONOIL was the top loser, with a price depreciation of -10.00%. Other decliners include TRANSCOHOT ,-9.97%, JBERGER ,-9.94%, DAARCOMM ,-7.69%, UCAP ,-3.51%, and ZENITHBANK ,-0.72%.
On Tuesday, the market breadth closed positive, recording 35 gainers and 31 losers. Sector performance mirrored the market’s overall strength, with five of six indices closing in positive territory. The Oil & Gas index ,-0.21%, shed some value, dragged by selloffs in CONOIL ,-10.00%.
The banking index ,+1.36%, advanced, buoyed by gains in GTCO
,+2.10%, and STANBIC ,+4.26%. The Consumer Goods ,+1.05%, and Industrial Goods ,+0.96%, indices were lifted by INTBREW ,+3.11%, and DANGCEM ,+2.27%, respectively.
Meanwhile, the insurance index ,+0.81%, benefited from continued bullish sentiment in CORNERST ,+3.48%. Overall, the equities market capitalisation grew by ₦259.49 billion to settle at ₦70.89 trillion, also marking a 0.37% increase.
