NGX All-Share Index Bounces Back, Gains 0.70% as Market Records Positive Turnaround

The Nigerian Exchange Ltd. (NGX) All-Share Index benchmark exhibited a rebound on Thursday, recovering from the previous day’s loss with a notable increase of 0.70%, equivalent to 572.7 points. The index settled at 82,597.08 after a decline of 1.4% on Wednesday, which had seen it closing at 82,024.38.

Investors benefited from this positive shift, gaining N313 billion. The overall market capitalization, starting at N44.885 trillion, appreciated by 0.70% to reach N45.198 trillion. This positive development pushed the Year-To-Date (YTD) return to 10.46%, signaling a positive trend.

Market breadth concluded in favor of the gainers, with 45 equities on the gainer’s table and 22 on the loser’s.

The improved performance was primarily attributed to investors gaining in MTN Nigeria, BUA Cement, and Zenith Bank. Specifically, trading activities saw 877.28 million shares valued at N14.41 billion exchanged in 14,919 deals. This marked a decrease from the previous session, which had seen 1.64 billion shares at N25.38 billion exchanged in 20,223 deals.

Top gainers in percentage terms included Guinea Insurance and Royal Exchange, each gaining 10% and closing at 44k and 99k per share, respectively. Julius Berger followed, gaining 9.92% to close at N5.10 per share. Cadbury gained 9.77%, closing at N21.90 per share, while The Initiative Plc (TIP) appreciated by 9.74%, closing at N1.69 per share.

On the flip side, Abbey Mortgage Bank and Ikeja Hotels led the losers’ table by 9.90%, closing at N2.73 and N7.83 per share, respectively. Caverton trailed by 9.66%, closing at N1.87, while Daar Communications lost 9.38%, closing at 87k per share. NPF Microfinance Bank shed 7.91%, closing at N1.98 per share.

Transcorp took the lead in terms of volume, trading 74.54 million shares valued at N934.42 million. Sterling Bank followed closely, transacting 54.32 million shares worth N341.58 million. Access Holdings traded 54.11 million shares worth N1.51 billion, and AIICO Insurance sold 53.90 million shares valued at N71.98 million. United Bank of Africa (UBA) traded 52.27 million shares at N1.6 billion.

Despite the positive momentum, trade turnover settled lower compared to the previous session, with the value of transactions decreasing by 43.20%.


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