Equity investors on the Nigerian Exchange (NGX) platform experienced a significant gain of approximately N184 billion as oil stocks rallied. This marked the second consecutive day of positive trading activities, driven by investors hunting for value stocks.
As a result, key performance indicators increased by 0.31%, boosting year-to-date returns to 31.74%. The All-Share Index rose by 302.71 basis points to close at 98,509.68.
According to stockbrokers, the market’s upward trajectory was attributed to bargain hunting in large and mid-cap stocks, including CONOIL (+10.00%), ARADEL (+7.53%), WAPCO (+1.54%), NB (+1.29%), STANBIC (+0.53%), FIDELITYBK (+0.32%), OANDO (+0.24%), ZENITHBANK (+0.23%), FBNH (+0.19%), and UBA (+0.15%).
Over two trading sessions, the equities market capitalization has grown by N244 billion, with gains recorded across all major sectors. Despite the positive sentiment, trading volumes and values declined by 65.93% and 49.44%, respectively. Atlass Portfolios Limited reported that approximately 320.10 million units worth N6,477.91 million were traded across 7,943 deals.
ETRANSACT led the activity chart, contributing 21.96% of the total traded volume, followed by UNIVINSURE (7.44%), ZENITHBANK (6.63%), FBNH (5.82%), and UBA (4.36%). ARADEL topped the value chart, accounting for 18.85% of the total value traded.
Leading the gainers’ chart were AFRIPRUD, CONOIL, and RTBRISCOE, each with a 10.00% price increase. Other notable gainers included GOLDBREW (+9.95%), NEM (+9.74%), TANTALIZER (+9.59%), and TRANSEXPR (+9.52%). In total, 34 stocks recorded price appreciation.
On the other hand, 17 stocks depreciated, with JBERGER leading the losers’ chart at -10.00%. Other decliners included MULTIVERSE (-7.63%), HMCALL (-6.07%), HONYFLOUR (-5.62%), NEIMETH (-4.76%), and FTNCOCOA (-3.78%).
Market breadth closed on a positive note, with 34 gainers against 17 losers. All five major market sectors recorded gains: the oil and gas sector rose by 2.59%, insurance by 2.34%, industrial by 0.15%, banking by 0.06%, and consumer goods by 0.04%.
Overall, the NGX market capitalization gained N183.50 billion to close at N59.72 trillion.
 platform experienced a significant gain of approximately N184 billion as oil stocks rallied.){kind=link}