Nigerian Exchange Reaches New Peak as Investors Add N583bn

This week, the Nigerian Exchange (NGX) had a solid performance, with market participants adding ₦583 billion in value, sending the All-Share Index to previously unheard-of heights.

Investor confidence has been steadily increasing since Monday’s trading session, when it started to gain speed.

With a strong 0.85% increase of 924.50 points, the benchmark index closed at a record high of 109,953.12. The durability of Nigeria’s capital market is demonstrated by this milestone, which also indicates the growing optimism among market participants.

Even though prices were rising, trade activity was trending in the opposite direction. There was a 34.98% fall in transaction volumes and a 38.78% decline in the overall trade value. 637.54 million shares valued at ₦11.09 billion were exchanged in 19,775 trades, according to market statistics.

The market’s growth was fueled by a number of mid-tier and blue-chip businesses. The session’s best performer was ARADEL, which recorded remarkable gains of 9.98%. Other noteworthy performers were CILEASING (+7.32%), LINKASSURE (+8.16%), ABCTRANS (+8.43%), and UPL (+9.86%).

ARADEL, BUAFOODS, and other high-quality equities attracted investors’ attention, and the increase was bolstered by judicious purchases in good businesses. The overall growth in market capitalization was greatly aided by this selective approach.

The largest trading volume, representing 11.36% of all stock transactions, was FIDELITYBK. The next-highest volume activity was 9.02% for CUSTODIAN and 8.73% for ACCESSCORP. Rounding out the top five most active stocks by volume were GTCO and ZENITHBANK.

Despite varying sectoral performance, GTCO led in value terms with 15.76% of overall trade value, indicating sustained interest in big banking stocks.

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At the end of the day, there was a positive market breadth, with 33 rising equities and 29 falling items. At -10.00%, TRIPPLEG led the decliners, indicating that not all stocks took part in the gain. Other noteworthy losers were VFDGROUP (-9.32%), MRS (-9.97%), and CUSTODIAN (-9.63%).

In all five of the major indicators, sectoral performance showed a varied picture. Despite consumer goods rising 2.20%, the oil and gas industry saw robust gains of 3.02%. Banking, on the other hand, fell by 0.02% while the insurance industry fell by 1.06%. The manufacturing sector did not change.

A growth of 0.85% was achieved by the whole market capitalization, which increased by ₦582.90 billion, bringing the total above ₦69 trillion. This performance indicates a consistent level of investor confidence in Nigeria’s economic prospects and reflects their hunger for high-quality stocks.

Selective buying patterns and record-high index levels point to a mature market where investors are becoming more interested in intrinsic value than speculative trading. For the long-term growth and stability of the market, this tendency is encouraging.