Equity investors See N1.6trn Profit As market Extends Gains Ahead Festive Break

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• As Fidelity Bank with 830m shares valued N16bn Nets 73% top five active stocks

BY BONNY AMADI

The Nigerian Exchange (NGX) equities market on Thursday extended its bullish momentum at the close of trading session, as the NGX All Share Index (ASI) rose by 1.63 per cent to close at 114,616.75 points.

Fidelity Bank emerged as the most transacted stock in value and in volume with a total turnover of 829,726,426.00 million shares worth N15, 971,371.498.15 billion.

The massive turnover placed the bank’s volume to account for 73 percent of the total volume polled by the top five most traded stocks in the session.

Meanwhile, this gain posted on Thursday alone added N1.16 trillion to the market capitalization, pushing it to N72.28 trillion and reflecting renewed investor confidence.

Market breadth was notably positive, with 40 gainers versus 22 decliners. Leading the advancers were Champion with 10.00%, NGX with 10.00%, MTN with 9.99%, Morison with 9.90%, and another MTN listing which added 9.96%.

On the flip side, NNFM declined dby 9.97%, ABC Transport by 9.77%, LegendInt by 9.49%, Livestock by 7.82%, and Omatek also weakened by 7.59%, as they all topped the list of laggards.

Sectoral performance was broadly upbeat, with all major indices closing in the green: Banking index grw by 2.21%, Insurance by 1.31%, Consumer Goods index by 1.02%, Oil & Gas expanded by 2.73%, Industrial Goods by 2.37%, and Commodities index advancing by 2.96%.

Trading activity was also robust, as the number of deals, trading volume, and value surged by 21.72%, 144.40%, and 104.78% respectively, with investors exchanging 1.46 billion shares worth N33.47 billion across 16,410 deals.

Top five gainers:

CHAMPION led the daya s the highest gainer stock with N0.70 or 10.00 per cent growth in value to close at N7.70 per share, followed by NGXGROUP with N3.60 or 10.00 per cent, closing at N39.60 per share, while MTNN closed third in the group higher at N319.20 per share, following expansion in price by N29.00 or 9.99 per cent.

OANDO closed fourth in the group at N56.85 per share, following N5.15 or 9.96 per cent prie expansion, while MORISON ended the top five gainers group with N0.29 or 9.90 per cent growth, to end the session at N3.22 per share.