NGX Extends Rally as Investors Gain ₦861 Billion in Single Day

Nigeria’s stock market sustained its winning run on Wednesday, adding N861 billion in value as the Nigerian Exchange extended its rally to a year-to-date return of 41.11 percent.

The All-Share Index rose 0.61 percent, gaining 1,336.39 points to close at 219,586.20. Market capitalization climbed from N140.523 trillion to N141.384 trillion.

Top Gainers

Market breadth stayed positive with 31 gainers against 28 losers. Transcorp Hotels, Vitafoam, UAC of Nigeria, and Chemical and Allied Products each gained 10 percent to lead the session.

Transcorp Hotels closed at N223.30, Vitafoam at N143, UAC of Nigeria at N121, and Chemical and Allied Products at N110 per share.

Trading Activity Eases

Volume fell 18.85 percent to 683.68 million shares valued at N36.17 billion across 51,694 deals. First HoldCo was the most active stock, trading 76.64 million shares worth N5.78 billion, accounting for 11.21 percent of total volume and 15.99 percent of the day’s value.

On the downside, Neimeth Pharmaceuticals dropped 10 percent to N9 per share. Abbey Mortgage Bank shed 9.85 percent to N5.95, while Livingtrust Mortgage Bank fell 8.94 percent to N3.36.

Rally Context

The 41.11 percent year-to-date return reflects sustained buying interest in Nigerian equities, with banking and consumer goods stocks drawing the most activity in recent sessions.

Sources: Daily Post, Business Post