NGX market capitalisation rises to N113.5 trillion as All-Share Index gains 1.65%, supported by sectoral growth and strong investor activity

The Nigerian Exchange (NGX) maintained its bullish momentum yesterday, extending gains from earlier in the week as investor appetite pushed total market capitalisation by N1.84 trillion to close at N113.50 trillion.

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The NGX All-Share Index (ASI) rose 1.65 per cent to 176,809.42 points, reflecting renewed optimism across major sectors.

Month-to-date and year-to-date returns advanced to +6.9 per cent and +13.6 per cent, respectively, signalling broad-based confidence in equities.

Sectoral performance was largely positive.

The NGX Banking Index led gains with a 1.83 per cent rise, while the NGX Oil & Gas and Industrial Goods indices climbed 2.97 per cent and 2.93 per cent, respectively.

Smaller advances were recorded in the Consumer Goods and Insurance sectors, which increased 0.18 per cent and 0.01 per cent.

The NGX Commodity Index also added 1.78 per cent.

Market breadth remained decisively positive at 3.0x, with 66 advancing stocks against 22 decliners.

Top gainers included Deap Capital Management & Trust Plc, eTranzact International Plc, John Holt Plc, and Omatek Ventures Plc, each rising by the maximum daily limit of 10 per cent.

Vitafoam Nigeria Plc followed with a 9.98 per cent increase, reflecting robust buying interest in select mid- and small-cap stocks.

Declines were driven by profit-taking and selective sell-offs.

Abbey Mortgage Bank Plc, Sky Aviation Leasing Company Plc, Guinea Insurance Plc, Consolidated Hallmark Holdings Plc, and Livestock Feeds Plc recorded the steepest losses for the session.

Trading activity presented a mixed picture.

Deals executed fell 10.6 per cent to 58,965, yet total volume surged 68.08 per cent to 1.30 billion shares, and traded value jumped 80.64 per cent to N50.43 billion, signalling heightened activity in key equities and large block trades.

Analysts attributed the rally to speculative interest, bargain hunting, portfolio repositioning, and improving liquidity.

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They noted that while near-term profit-taking remains a risk, positive macroeconomic expectations and sectoral gains could sustain upward momentum in upcoming sessions.