Investors Bag N1.45trn Profit as Upbeat Sentiment Sweeps Bourse

• Market Cap Eyes N100trn

Investors in listed stocks on the NGX Exchange on Wednesday smiled home with N1.4 trillion growth on their investment value as the market capitalisation nears N100 trillion.

The Nigerian equities market sustained its bullish trajectory on Wednesday, with heightened investor activity propelling gains across major sectors.

The NGX All-Share Index climbed 1.50% to 153,736.25 points, lifting year-to-date returns to 49.35%. Market capitalization increased correspondingly by N1.45 trillion to N97.58 trillion, reflecting robust investor confidence in market fundamentals and forthcoming earnings releases.

Market sentiment was favourable, with 32 advancing stocks marginally surpassing 30 decliners, yielding an improved 1.1x breadth ratio. ASOSAVINGS, SKYAVN, UPDCREIT, NASCON, and DANGCEM topped gainers, while TIP, LEGEND INT, ROYALEX, CHAMPION, and MANSARD led losers.

Sectoral performance was mixed as Oil & Gas (+2.07%), Commodity (+1.22%), Consumer Goods (+0.30%), and Industrial (+0.16%) posted gains, while Insurance (-0.51%) and Banking (-0.42%) declined.

Trading activity strengthened across all metrics as volume rose 6.81% to 589.49 million shares, transaction values increased 16.91% to N24.01 billion, and deals climbed 3.51% to 28,485, indicating enhanced market participation with larger-sized transactions

Top five gainers

ASOSAVINGS which secured lifting of suspension of trading on its stocks on Wednesday, led the days the highest gainer with N0.05 or 10.00 per cent, to close at N0.55 per share, followed by SKYAVN with N9.00 or 9.99 per cent gain, to close at N99.05 per share, while LOTUSHAL15 appreciated by N8.00 or 9.76 per cent to N90.00.

UPDCREIT gained N0.60 or 8.16 percent to close at N7.95 per share, while NASCON closed the top five gainers group at N110.00 per share, following growth by N7.00 or 6.80 per cent.