Equities Market Index Rises 0.79% as Investors Gain N545.8bn

Samuel Mobolaji

The Nigerian Exchange (NGX) extended its bullish momentum on Friday, with the All-Share Index climbing 0.79 per cent to close at 109,884.92 points. Market capitalisation followed suit, adding N545.8 billion to settle at N69.29 trillion, as investor confidence returned to specific high-conviction equities.

However, overall market activity weakened, with volume and value traded plunging 34.98 per cent and 38.78 per cent respectively. This divergence suggests that the day’s rally was driven by selective accumulation in fundamentally strong or speculative stocks, while broader participation remained subdued. The 24.16 per cent jump in the number of trades indicates heightened order flows, possibly from institutional players making calculated moves.

ARÁDEL led the charge among gainers, rising 9.98 per cent to N505.90 on a transaction value of over N791 million, underscoring sustained institutional appetite for the energy stock. Other notable performers included UPL (+9.86%), ABCTRANS (+8.43%), and CILEASING (+7.32%), pointing to a return of speculative and rotational play within mid-cap and niche segments.

Conversely, the losers’ board was topped by TRIPPLEG, which shed 10 per cent, followed closely by MRS (-9.97%) and CHELLARAM (-9.96%). The steep drops in UHOMREIT (-9.95%) and IMG (-9.91%) hinted at either profit-taking or liquidity constraints, particularly among stocks that had recently surged. Despite a high transaction value exceeding N64 million, UHOMREIT’s decline may reflect portfolio adjustments by large investors.

Market breadth closed slightly positive at 1.06, signalling a modestly bullish tone as gainers marginally outnumbered losers. FIDELITYBK led the volume chart with a 2.41 per cent decline, while GTCO topped the value chart despite falling 2.29 per cent.

On the NASD OTC Exchange, the Securities Index fell marginally by 0.04 per cent to 3,187.5 points, with market capitalisation slipping to N1.87 trillion. Trading activity, however, spiked—volume surged 130.54 per cent to 888,775 units and value traded rose 53.24 per cent to N22.65 million, although deal count dropped by 31.43 per cent, likely due to large negotiated trades.

Geo-Fluids Plc gained 8.99 per cent to N2.78, driven by renewed investor interest or favourable corporate developments. FrieslandCampina WAMCO dipped 2.16 per cent to N43.00, possibly reflecting mild profit-taking in the consumer goods space.