Trading on the Nigerian Exchange rebounded on Thursday as All-Share Index (NGX ASI) edged up by 0.18% , based on marginal gains recorded by MTNN and ZENITHBANK, despite negative breadth and lower trading volume
Data from the Nigerian Exchange Group (NGX), the supervisory group for the exchange indicated that at the close of trading today, market capitalisation increased by 0.18% to N126.31 trillion, reflecting about N220.75 billion gain by investors.
Despite the positive trend, market breadth was negative with 32 gainers compared to 38 losers, yielding a breadth ratio of 0.84x, which indicates that selling stocks dominated a larger proportion of listed equities despite the index’s marginal upward movement.
The NGX data showed that trading activity on the local bourse was mixed, reflecting divergent participation across the sectors just as total volume traded also dipped by 7.43% to 513.58 million units, suggesting slightly weaker turnover relative to the prior session.
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However, total value traded rose by 9.86% to N18.43 billion but deals fell by 4.61% to 31,862 trades, indicating a mild moderation in transaction intensity compared with the previous trading day.
On sectoral performance, the trend was largely mixed. The Industrial Goods Index marginally gained 0.03% supported by increase in DANGCEM, while the Consumer Goods Index rose by 0.10% following gains in NESTLE while the Banking Index increased by 0.51% driven by gains in ZENITHBANK and UBA.
Conversely, the Insurance Index fell by 1.63% due to losses in SOVRENINS and AIICO while Oil & Gas Index showed mixed performance as decline in OANDO (-4.00%) dragged the index down by 0.16% despite gains in ETERNA and JAPAULGOLD.
The NGX data on the trading trend further indicated that on the volume chart, the most actively traded equities included JAIZBANK (137.30 million units), GTCO (45.47 million units), and ACCESSCORP (29.74 million units), highlighting strong investor interest in the banking segment.
This is even as the value chart reflected that GTCO dominated with approximately N5.41 billion, followed by ARADEL with N4.62 billion traded stock value.
