Investors on the Nigerian Exchange (NGX) saw significant gains, with equities climbing by approximately N217 billion as trading activity intensified. This increase was largely driven by heightened interest in oil stocks, which led to a notable rise in key performance indicators.
Data from the NGX showed a 0.37% uptick in the All-Share Index, which gained 357.62 basis points, closing at 96,924.86. This reflects a steady year-to-date improvement as investors continued to place strategic bets on major stocks like CONOIL, ARADEL, NEIMETH, and OANDO.
Overall trading activity surged, with the total volume and value traded on the day rising by 77.95% and 64.10%, respectively. According to Atlass Portfolios Limited, 744.54 million units worth ₦16,477.74 million were exchanged in 9,700 deals. JAPAULGOLD led in volume, accounting for 16.86% of the day’s trades, while other top volume drivers included ELLAHLAKES (14.65%), FBNH (11.24%), OANDO (9.10%), and UBA (5.81%).
In terms of trade value, JBERGER topped the list, representing 28.02% of total value exchanged. CONOIL and ARADEL both gained 10.00%, leading the day’s advancers. Other significant gainers included EUNISELL (+9.92%), JOHNHOLT (+9.77%), and THOMASWY (+9.71%).
However, seventeen stocks recorded losses, with TANTALIZER leading the decliners at -6.25%, followed by NGXGROUP (-5.81%), WEMABANK (-5.63%), FCMB (-3.59%), and JAPAULGOLD (-2.26%).
A positive market breadth was achieved, with 32 gainers and 17 decliners. Four of the five major sectors closed up, led by the Insurance sector (+1.84%), followed by Oil & Gas (+1.77%), Industrial (+0.02%), and Consumer Goods (+0.01%). The Banking sector was the only sector to decline, dipping by 0.38%.
The total market capitalization of the Nigerian Exchange rose by N216.83 billion, reaching ₦58.73 trillion at the close of the trading day.
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