NGX Market Capitalisation Jumps by N443 Billion Amid Positive Trading Session
The Nigerian Exchange Limited (NGX) resumed trading on an optimistic note yesterday, with market capitalisation climbing by a substantial N443 billion. This uptick was fueled by sustained buying interest across 31 stocks, reflecting a buoyant investor sentiment in the equities market.
Key Market Indicators Show Growth
The All Share Index (ASI) advanced by 688.43 points, marking a growth of 0.34 per cent to close at 204,458.86 points. Concurrently, market capitalisation rose to N131.609 trillion, up from the previous session. This positive movement was largely influenced by gains in medium and large capitalised stocks, with notable performers including Guinness Nigeria, Nigerian Exchange Group, Stanbic IBTC Holdings, Nigerian Breweries, and CWG.
Market Outlook and Analyst Insights
United Capital Plc provided insights into the market outlook, stating, "Equity market is likely to remain selectively constructive this week, supported by ongoing rotation into high‑quality, dividend‑paying large‑cap stocks as investors seek income and balance‑sheet resilience." However, the firm cautioned that upside potential may be uneven due to factors such as elevated bond yields, restrictive monetary conditions, and lingering inflation risks, which continue to compete for capital. As a result, market performance is expected to remain highly stock‑specific, with leadership concentrated in defensive and cash‑generative names rather than broad‑based index gains.
Market Breadth and Stock Performance
Market breadth was positive, with 31 advancers outpacing 24 decliners. Nigerian Exchange Group led the gainers with a 10 per cent increase to close at N153.45 kobo. Other top performers included Trans-Nationwide Express, which gained 9.81 per cent to close at N4.14, McNichols Consolidated up by 9.74 per cent to close at N7.10 kobo, VFD Group rising 9.71 per cent to N11.30, and Chams Holding Company gaining 8.96 per cent to N3.65 kobo.
On the downside, Berger Paints topped the losers' chart with a decline of 9.95 per cent to close at N68.35 per share. Academy Press followed with a 9.71 per cent drop to N7.90, while Caverton Offshore Support Group declined by 5.98 per cent to N5.50 kobo. Honeywell Flour Mills depreciated by 4.92 per cent to N20.30, and CAP fell by 3.81 per cent to N96.
Trading Volume and Value Details
The total volume traded experienced a dip of 14.33 per cent, amounting to 470.008 million units. These transactions were valued at N32.449 billion and exchanged in 60,793 deals. Access Holdings dominated the activity chart with 54.914 million shares valued at N1.422 billion. Guaranty Trust Holding Company (GTCO) followed with 43.512 million shares worth N5.843 billion, while Zenith Bank traded 42.205 million shares valued at N4.750 billion. Japaul Gold & Ventures and Chams Holding Company also saw significant activity, trading 19.268 million shares valued at N57.528 million and 19.062 million shares worth N65.930 million, respectively.
This session underscores the dynamic nature of the Nigerian stock market, with selective gains driving overall capitalisation growth amidst mixed performances across individual stocks.
