The Nigerian Exchange (NGX) bounced back on Thursday as the equities market gained momentum, adding N310 billion to investors’ wealth after two sessions of mixed trading.
The positive performance was largely fueled by renewed bargain hunting and strong investor appetite for select stocks, particularly Chellaram, Austin Laz, The Initiates, Sovereign Trust Insurance, Aradel Holdings, and 23 other equities.
Key Market Highlights
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Market Capitalisation: Rose from N89.555 trillion to N89.865 trillion, reflecting a gain of N310 billion.
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All-Share Index (ASI): Advanced by 0.35% or 489.45 points, closing at 142,036.23 compared with 141,546.78 on Tuesday.
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Market Breadth: Closed negative, with 32 losers outweighing 28 gainers.
Top Gainers
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Chellaram Plc surged 9.77% to close at N14.60.
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Austin Laz & Co. rose 9.67%, finishing at N2.95.
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The Initiates Plc gained 8.08% to N12.97.
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Sovereign Trust Insurance advanced 7.37% to N3.06.
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Aradel Holdings climbed 6.97%, settling at N583 per share.
Top Losers
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Guinea Insurance dipped 9.70% to N1.49.
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Cornerstone Insurance dropped 8.68% to N6.52.
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Legend Internet fell 7.27% to N5.10.
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Deap Capital Management shed 7.06% to N1.58.
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Thomas Wyatt Nigeria declined 6.49% to N2.45.
Market Activity
Trading activity showed a mixed trend:
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Volume: Increased to 1 billion shares compared with 414.9 million shares traded on Tuesday.
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Value: Jumped to N24.7 billion, up from N12.95 billion previously.
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Deals: Declined to 23,281 transactions from 25,386 deals.
Most Active Stocks
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Abbey Mortgage Bank: Led with 401.1 million shares valued at N2.7 billion.
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Fidelity Bank: Followed with 254.8 million shares worth N5.3 billion.
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United Bank for Africa (UBA): Traded 23.2 million shares worth N1.1 billion.
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FirstHoldCo: Recorded 22.5 million shares valued at N699.6 million.
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Access Corporation: Sold 17.5 million shares worth N473.9 million