Nigerian Exchange Uptrend Continues, Investors Gain N189bn
The Nigerian Exchange (NGX) continued its upward momentum on Friday, with investors raking in N189 billion in market gains. The market closed the week positively, as key performance indicators advanced by +0.32%.
Investor interest in stocks like ARADEL, CONOIL, and others drove the market’s growth. The All-Share Index rose by 311.33 basis points, settling at 97,236.19 points at the close of trading.
Despite the overall positive performance, market activity slowed with total volume and value traded dropping by 35.67% and 42.82%, respectively. According to a market update from Atlass Portfolios Limited, about 478.94 million units, worth N9.42 billion, were transacted across 9,015 deals.
STERLINGNG was the most traded stock by volume, accounting for 25.05% of the total volume. Other top volume drivers included ELLAHLAKES (19.23%), ACCESSCORP (11.45%), FIDELITYBK (5.41%), and GTCO (4.72%). ARADEL led the market in value terms, contributing 15.82% of the total trade value.
ARADEL also topped the advancers’ chart, appreciating by 10.00%, followed by CONOIL (+9.94%), JOHNHOLT (+9.82%), LASACO (+9.09%), FTNCOCOA (+8.00%), and MCNICHOLS (+7.91%).
On the flip side, 23 stocks recorded losses, with MEYER leading the decliners at -9.98%. Other losers included ETERNA (-9.82%), DEAPCAP (-9.32%), and LIVESTOCK (-5.24%).
The market breadth closed positive with 29 gainers and 23 losers. However, sectoral performance was mostly negative, with the Banking sector down by -0.16%, Insurance by -0.10%, Industrial by -0.02%, and Consumer Goods by -0.01%. The Oil & Gas sector was the sole sector to post a gain, up by 1.37%.
Overall, the equities market capitalisation of the NGX gained N188.65 billion, closing at N58.92 trillion. Kano State Presents N549bn 2025 Budget for Legislative Approval
