NGX Trading Reverses as Investors Gain N364bn

Nigerian Stock Exchange with market operators

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The Nigerian Stock Exchange witnessed a market reversal as equity investors gained N364bn following an improvement in the All-Share Index, which surged by 0.57 per cent to close at 104,549.74 points.

The market capitalisation now stands at N64.5tn.

This marked a 1.67 per cent gain for the week, along with a 1.58 per cent year-to-date gain.

Among the top gainers, Aradel Holdings led the pack, appreciating by 10 per cent to end at N594.00 per share, followed by Chellarams (+9.98 per cent), Stanbic IBTC Holdings (+9.92 per cent), and University Press (+9.64 per cent).

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On the other hand, Caverton Offshore Support Group led the losers with a 10 per cent drop, closing at N2.07 per share, while McNichols (-10 per cent), Thomas Wyatt Nigeria (-9.8 per cent), and Veritas Kapital Assurance (-9.79 per cent) followed closely.

Despite these positive movements, Universal Insurance recorded the highest volume of 33.6m shares, followed by Fidelity Bank with 31.9m shares and FCMB Group with 23.1m shares, contributing to the day’s notable trading activity.

Notably, the Oil & Gas Index outperformed, rising by 3.34 per cent, while the Banking Index rose by 0.75 per cent, reflecting positive investor sentiment in the sector. The Consumer Goods Index also gained by 0.81 per cent.