Equity investors recorded modest gains on Thursday as the Nigerian Exchange Limited (NGX) closed on a positive note. Key performance indicators rose by 0.02 per cent during a session defined by strategic moves.
Despite decliners outnumbering advancers, the marginal uptick reflects sustained positive sentiment in the market. Analysts attribute this growth largely to bargain hunting in selected medium- and large-cap stocks across major sectors.
Market Milestones and Capital Growth
At the close of trading, the NGX Index (All-Share Index) advanced by 32.14 basis points to settle at 200,957.89. Similarly, market capitalisation rose by N20.63 billion to close at N129 trillion, underscoring the cautious optimism among equity investors.
Market activity also improved significantly. Total volume and value of trades increased by 26.05 per cent and 30.54 per cent, respectively. A total of 678.13 million shares worth N33.14 billion were exchanged in 42,222 deals during the session.
Key Market Movers
On the activity chart, Access Holdings Plc (ACCESSCORP) dominated volume, accounting for 20.02 per cent of total traded units. It was followed by:
- Wema Bank Plc (15.70%)
- Veritas Kapital Assurance Plc (11.03%)
- Zicon International Plc (3.41%)
- United Bank for Africa Plc (2.70%)
In terms of value traded, MTN Nigeria Communications Plc (MTNN) led the chart. It accounted for 33.51 per cent of total transactions, reaffirming its position as a major market mover.
Gainers and Laggards
On the gainers’ table, Premier Paints Plc (PREMPAINTS) and Zicon International Plc (ZICHIS) topped the list with gains of 10.00 per cent each. Other notable advancers included Legend Internet Plc (+9.92%), John Holt Plc (+9.87%), McNichols Plc (+9.76%), Red Star Express Plc (+9.53%), and LivingTrust Mortgage Bank Plc (+9.42%), alongside 23 other stocks.
Conversely, 35 stocks recorded losses. Universal Insurance Plc (UPL) led the laggards with a decline of 9.17 per cent, followed by:
- SUNU Assurances Nigeria Plc (-8.88%)
- Veritas Kapital Assurance Plc (-6.98%)
- FTN Cocoa Processors Plc (-6.67%)
- NGX Group Plc (-6.46%)
- Linkage Assurance Plc (-6.06%)
Sectoral Outlook
Market breadth closed negative, with 30 gainers against 35 losers. This reflects a cautious undertone despite the overall positive close. Sectoral performance was largely bearish, indicating tightening sentiment. The insurance sector declined by 0.82 per cent, followed by the industrial goods sector (-0.21%) and the oil and gas sector (-0.16%).
However, the banking and consumer goods sectors recorded gains of 0.26 per cent and 0.18 per cent, respectively. These wins helped to support the market’s upward movement and provided a cushion for the NGX Index at the close of play.
