The Nigerian stock market saw a major boost as investors gained more than N332 billion in a single trading session. This surge in the Nigerian Exchange (NGX) was driven by increased demand for shares in FBN Holdings (FBNH), ETERNA, and Cadbury Nigeria, pushing the total value of all stocks listed on the exchange above N65 trillion.
Market Performance Overview
The stock market’s key performance indicators increased by 0.51% (or 51 basis points), reflecting an overall positive trading session. This rise was mainly due to investors hunting for bargains in medium- and large-cap stocks like FBNH, ETERNA, and CADBURY, which saw strong demand.
The NGX All-Share Index, which measures the overall market performance, rose by 536.54 points, closing at 105,324.89. This upward trend was fueled by investors looking to capitalize on earnings reports from different companies.
Trading Volume and Value Surge
Stockbrokers observed a sharp rise in market activity, with the total number of shares traded increasing by a massive 121.50%, while the total value of these trades rose by 43.02%. In its report, Atlass Portfolios Limited disclosed that investors traded about 1.04 billion shares, worth N28.45 billion, across 14,854 transactions.
Top Performing Stocks
Among the most actively traded stocks, ACCESSCORP led in terms of volume, accounting for 44.80% of all shares traded. Other major contributors included FBNH (9.38%), UACN (4.39%), Zenith Bank (4.23%), and AIICO (3.14%).
When it came to the value of stocks traded, ACCESSCORP also topped the list, making up 43.63% of the total market transactions.
The biggest price gainer of the day was GUINEAINS, which recorded a 10% increase. Other notable gainers included ETERNA (+9.96%), CADBURY (+9.95%), INTENEGINS (+9.91%), FBNH (+9.56%), and VERITASKAP (+7.56%). A total of 37 stocks recorded price increases.
Stocks That Declined
Despite the overall market growth, 21 stocks recorded losses. MAYBAKER led the losers, dropping by -9.88%. Other stocks that saw declines include ACADEMY (-9.33%), THOMASWY (-9.31%), PRESTIGE (-6.15%), INTBREW (-4.50%), and CONHALLPLC (-3.17%).
Sectoral Performance
The overall market breadth remained positive, with more gainers than losers. Out of the five major market sectors:
- Banking recorded the highest growth, increasing by 3.17%.
- Oil & Gas grew by 0.31%.
- Industrial goods gained 0.09%.
- Insurance and Consumer Goods declined by 0.67% and 0.44%, respectively.
At the end of trading, the NGX market capitalization rose by N332.25 billion, closing at N65.22 trillion.
