The Nigerian equities market sustained its bullish momentum during today’s trading session, recording its eighth consecutive positive session as the NGX All-Share Index (NGX-ASI) grew by 0.59% to close at 153,354.14 points
The improved performance of local bourse was primarily spurred by renewed buying interest in stocks such as BUAFOODS and FIRSTHOLDCO, among others, thereby lifting the market capitalization by N578.89 billion to close at N97.77 trillion at the close of the trading session.
Data from the Nigerian Exchange Group, the market’s supervisory group, showed that based on the prevailing bullish sentiment, trading activity strengthened, as total volume and value traded surged by 50.05% and 59.84%, respectively.
According to the group, a total of 677.43 million shares were exchanged for N20.78 billion during the session.
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A further analysis of the data on the local bourse’s trading trend reflected that sectoral performance was broadly positive, with the Consumer Goods, Banking, and Industrial indices sustaining their upward momentum.
Specifically, the NGX reported that the Consumer Goods Index led the gainers, rising by 1.30%, followed by the Banking Index, which climbed 1.23% based on gains in FIRSTHOLDCO (+9.35%) and UBA (+1.03%), just as the Industrial Index also edged higher by 0.21%, supported by some selective stocks’ gains in the sector.
Conversely, the Insurance Index topped the losers’ chart with a decline of 0.13%, while the Oil and Gas Index followed, pressured by losses in OANDO and JAPAULGOLD shares.
In terms of market activity, the data from the NGX indicated that VFDGROUP dominated the volume chart, with 191.97 million shares traded and accounting for 28.34% of total market volume, as the stock closed 2.36% higher.
On the value chart, GTCO led with N5.59 billion worth of shares traded, despite dipping in value by 0.11% to close at N88.00 per share.
