The Nigerian Exchange (NGX) experienced a boost of approximately N132 billion, pushing market capitalization beyond the N59 trillion mark. This increase reflects a recovery in the equities market, driven by positive investor sentiment following recent declines.
As a result, NGX’s year-to-date return rose to 30.36% on Wednesday, remaining ahead of the annual inflation rate, with key economic data on the horizon. Buying activity across various indices helped the NGX All-Share Index grow by 0.22%, mirroring the growth in market capitalization.
Market data reveals that the All-Share Index increased by 217.05 points to close at 97,477.80. Atlass Portfolios Limited highlighted this recovery in a note, attributing gains to bargain hunting in the Financial and Consumer Goods sectors, which helped reverse prior losses.
The banking sector saw strong interest, with notable buying activity in Tier-1 banks: UBA (+3.48%), Zenith Bank (+2.38%), and Access Corp (+2.70%), pushing the banking index upward.
However, overall trading volume and value dipped, with total volume and value traded down by 29.50% and 18.91%, respectively. Approximately 247.01 million units, valued at ₦7,510.53 million, were traded across 8,305 deals. Access Corp was the highest traded stock in volume terms, accounting for 16.22% of the total, followed by UBA (9.62%), Fidelity Bank (8.63%), UCAP (6.61%), and GTCO (5.97%).
In terms of value, Aradel led, representing 22.34% of total trades. INTENEGINS topped the gainers list with a 10.00% price increase, followed by JOHNHOLT (+9.98%), EUNISELL (+9.88%), THOMASWY (+9.71%), and others. Meanwhile, REGALINS was the biggest decliner, falling 10.00%.
Market breadth was positive, with 30 gainers against 19 losers. Sector performance was mixed: the Banking sector grew by 1.38%, Consumer Goods rose 0.38%, and Industrials edged up 0.01%. The Insurance sector declined by 0.58%, while Oil & Gas remained steady. Overall, NGX market capitalization expanded by N131.65 billion, closing at N59.07 trillion.
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