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The Nigerian Exchange (NGX) reached an all-time high on Wednesday, with investors collectively gaining N779 billion. This pushed the total market capitalization beyond N67 trillion, reflecting strong investor confidence in the equities market......CONTINUE READING THE ARTICLE FROM THE SOURCE>>>>>
According to data from the NGX, key market indicators rose by 1.17%, fueled by major gains in stocks such as Dangote Cement, Transcorp Hotels, and Eterna. The All-Share Index (ASI) increased by 1,247.55 basis points, closing at 107,822.53 points.
Despite the strong market rally, overall trading activity slightly declined. The total volume of shares traded fell by 3.44%, while the total value of stocks exchanged dropped by 13%. In its market report, Atlass Portfolios Limited stated that approximately 462.14 million shares, worth N10.23 billion, were traded across 15,629 transactions.
In terms of trading volume, Sterling Bank led the market, accounting for 10.80% of the total shares traded. Other active stocks included Ellah Lakes (7.51%), Zenith Bank (5.56%), Access Holdings (4.27%), and AIICO Insurance (4.03%).
Zenith Bank emerged as the most actively traded stock in terms of value, representing 12.82% of the total transactions recorded on the exchange.
Among the top gainers of the day, Ikeja Hotel and VFD Group recorded the highest price appreciation, each gaining 10%. Other stocks that posted significant gains included Honeywell Flour Mills (+9.99%), Transcorp Hotels (+9.99%), Eterna (+9.93%), Ellah Lakes (+9.92%), and International Energy Insurance (+9.85%).
On the losing side, CWG suffered the steepest decline, with its stock price dropping by 8.95%. Other notable decliners included Regency Alliance Insurance (-7.89%), Lasaco Assurance (-7.25%), FTN Cocoa (-4.76%), Neimeth Pharmaceuticals (-3.43%), and Veritas Kapital Assurance (-0.82%).
The overall market sentiment remained positive, with 50 stocks posting gains, while only 16 stocks recorded losses.
In sectoral performance, four out of the five major market sectors posted gains. The industrial sector led the rally with a 2.11% increase, followed by the consumer goods sector (+1.44%), the banking sector (+0.49%), and the oil & gas sector (+0.20%). The insurance sector was the only laggard, dipping slightly by 0.04%.
As a result of the strong trading session, the total market capitalization of the NGX increased by N778.55 billion, reflecting a 1.17% growth to close at N67.27 trillion.