Investors Gain N3.69trn as NGX ASI Jumps 5.13%

Samuel Mobolaji

The Nigerian Exchange (NGX) All-Share Index surged by 5.13 per cent in the holiday-shortened trading week, resulting in a N3.69 trillion gain in investor wealth. The uptrend was fuelled by bargain-hunting across major sectors, including Consumer Goods, which rose by 6.20 per cent; Banking, up 5.38 per cent; and Insurance, which advanced by 4.41 per cent.

On the final trading day of the week, the market maintained its bullish momentum, as the benchmark index gained 1.63 per cent to close at 114,616.75 points. The market capitalisation also appreciated by 1.63 per cent, ending at N72.28 trillion, up from N68.59 trillion the previous week. This brought the year-to-date return on the index to 9.58 per cent.

Investor sentiment remained broadly positive, bolstered by strong gains in key stocks such as MTNN (+9.99%), OANDO (+9.96%), and ACCESSCORP (+5.45%).

Trading activity also picked up significantly, with the volume of transactions rising by 139.05 per cent to 1.46 billion units, while the total value traded jumped by 100.68 per cent to N33.47 billion. The number of executed deals increased by 19.94 per cent to 16,410. FIDELITYBK led both the volume and value charts, with 829.73 million shares traded worth N15.97 billion.

Market breadth closed positive at a 1.74-to-1 ratio, as 40 gainers outpaced 23 losers. CHAMPION led the gainers’ table with a 10.00 per cent increase, while NFM topped the losers’ chart with a decline of 9.97 per cent.

On the NASD OTC Securities Exchange, the NSI rose by 1.42 per cent to close at 3,338.8 points, with market capitalisation increasing to N1.96 trillion. Trading activity was upbeat, with volume up by 36.68 per cent, value up by 62.11 per cent, and number of trades rising by 69.70 per cent, reflecting improved investor interest in the unlisted securities market.