The Nigerian Exchange Limited (NGX) saw an increase in the NGX All-Share Index. Due to purchasing pressure in the banking and services sectors, the local exchange ended the week’s trading session on a high note. As a result, the NGX All Share Index finished at 104,647.37 index points, up +0.25%. The year-to-date return of the local bourse stands at 39.95%
The NGX upward trend led to a significant gain in market capitalization of N146.95 billion, indicating investors’ increased trust in stock markets. This culminated in a total market capitalization of N59.17 trillion.
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AIRTELAFRI, DANGCEM, GEREGU, BUA Cement, BUAFOODS, MTNN, SEPLAT, TRANSCOHOT, and TRANSPOWER in the most recent trading session, showed resistance to the volatility seen in other shares by exhibiting stable stock prices.
The financial sector, where important institutions experienced an increase in the value of their stock, made a substantial contribution to this upward market movement. Since there were 34 winners and 14 losers, the market breadth index was positive.
With a noteworthy 10% increase in its stock value, NSLTECH led the group of 34 advancing stocks and the market attitude remained positive.
Conversely, IKEJAHOTEL and PZ had a 10% decline each, making them the least successful companies out of the 14 that experienced a decline.
GTCO was notable for its value traded, but ACCESSCORP dominated the day’s activity in terms of trading volume.
Market activities saw a spike, with 9,574 deals completed on the day, up from 8,790 deals in the previous session. Activity levels saw a +57% increase in total volume, reaching 515 million units valued at N14.3 billion.
