The Nigerian Exchange (NGX) bounced back on Thursday, gaining N216 billion in market capitalization as investors returned to the market following a period of sell-offs.
According to data from the NGX, the market’s key performance indicators improved by 0.32%, marking a turnaround after successive losses. Investors took advantage of recent declines to buy into medium- and large-cap stocks, particularly in companies such as Transcorp, Africa Prudential, and Guinness Nigeria.
The NGX All-Share Index (ASI) increased by 344.24 points (+0.32%), closing at 106,780.72. However, trading activity slightly declined, with total volume and value of transactions decreasing by 3.55% and 9.94%, respectively.
Investment firm Atlass Portfolios Limited reported that 375.73 million shares valued at ₦10.19 billion were traded across 11,447 deals. Guaranty Trust Holding Company (GTCO) led trading activity, accounting for 13.30% of the total market volume, followed by Access Holdings (11.68%), Zenith Bank (9.73%), Fidelity Bank (7.22%), and United Bank for Africa (5.18%).
In terms of value, GTCO emerged as the most traded stock, representing 28.62% of the total transaction value. Meanwhile, Transcorp led the gainers’ chart with a 9.98% price increase, followed by SCOA (+9.88%), Africa Prudential (+9.87%), Tantalizers (+9.72%), Caverton (+9.52%), and Smurfit (+9.09%).
Despite the market’s overall positive trend, 15 stocks recorded losses. The biggest decliners were Sunu Assurances, MRS Oil, and Red Star Express, each losing 10% in value. Other stocks that saw declines included LASACO (-7.99%), Stanbic IBTC (-6.25%), Consolidated Hallmark Insurance (-3.65%), CHAMS (-2.44%), and Access Holdings (-0.21%).
Market breadth was largely positive, with 36 gainers compared to 15 decliners. Sectoral performance was also strong, as four out of five major sectors posted gains. The banking sector led with a 0.83% increase, followed by consumer goods (+0.78%), insurance (+0.18%), and industrial goods (+0.01%). The oil and gas sector was the only laggard, dipping by 0.09%.
Overall, the total market capitalization of the NGX rose by ₦215.57 billion (+0.32%), closing at ₦66.87 trillion.
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