Investors on the Nigerian Exchange (NGX) saw a gain of approximately N11 billion as small-cap stocks experienced a strong rally. This rebound ended a four-day losing streak, with key market performance indicators showing a modest 0.02% increase.
The market’s positive sentiment was fueled by bargain hunting, particularly in small- and medium-cap stocks that had recently lost value. The NGX All-Share Index edged up by 17.38 basis points, closing at 107,798.99.
However, overall market activity declined. Trading records showed a 32.37% drop in total volume and a 16.84% decrease in the total value of transactions. According to Atlass Portfolios Limited, approximately 245.52 million shares worth N8.41 billion were traded across 10,078 deals.
Top Market Performers
In terms of trading volume, ACCESSCORP led the market, accounting for 14.91% of the total shares traded, followed by ZENITHBANK (10.93%), STERLINGNG (4.59%), JAIZBANK (4.44%), and AIICO (4.40%). Meanwhile, ZENITHBANK was the most traded stock in value, making up 15.30% of the total market value.
On the gainers’ chart, AFRIPRUD saw the highest appreciation, climbing 9.90%. Other notable gainers included CAVERTON (+9.87%), OMATEK (+8.22%), LASACO (+6.92%), ETERNA (+6.60%), and ROYALEX (+6.33%).
Conversely, sixteen stocks recorded losses. GUINEAINS was the biggest loser, dropping 10%. Other stocks that declined included OANDO (-7.69%), NGXGROUP (-3.13%), GTCO (-2.40%), FTNCOCOA (-1.74%), and TRANSCORP (-1.58%).
Sectoral Performance and Market Outlook
Despite the overall negative market breadth (33 gainers versus 16 losers), sectoral performance was mixed. The Insurance sector led with an 0.83% gain, followed by Consumer Goods (+0.58%) and the Industrial sector (+0.01%). However, the Oil & Gas and Banking sectors declined by 0.68% and 0.21%, respectively.
In total, the NGX market capitalization increased by N10.73 billion, closing at N67.18 trillion.
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