Investors Gain ₦1.86 Trillion As NGX Extends Bullish Run

Investors on the Nigerian Exchange Limited (NGX) gained ₦1.864 trillion on Tuesday as the equities market extended its bullish rally on sustained buying interest in large- and mid-cap stocks.

The positive performance was driven by demand for stocks such as Zichis Agro Allied Industries, Cadbury Nigeria, Nigerian Aviation Handling Company, Ikeja Hotel and Daar Communications, among others.

At the close of trading, market capitalisation rose by 1.24 per cent, or ₦1.864 trillion, to ₦152.135 trillion from ₦150.271 trillion recorded in the previous session.

Similarly, the All-Share Index advanced by 2,905.05 points, representing a 1.24 per cent increase, to close at 237,083.28 points compared with 234,178.23 points previously.

Consequently, the market’s year-to-date return rose to 52.35 per cent, while market breadth closed positive with 54 gainers against 17 losers.

Cadbury Nigeria and Zichis Agro Allied Industries led the gainers’ chart after appreciating by 10 per cent each to close at ₦61.60 and ₦26.62 per share, respectively.

Nigerian Aviation Handling Company followed with a 9.99 per cent gain to close at ₦147 per share, while Daar Communications rose by 9.94 per cent to ₦1.99.

Ikeja Hotel also appreciated by 9.90 per cent to close at ₦47.20 per share.

Naija News understands that on the losers’ chart, Critical Minerals Financing Corp, Trans-Nationwide Express and Fortis Global Insurance shed 10 per cent each to close at ₦3.33, ₦2.70 and ₦2.61 per share, respectively.

Ecobank Transnational Incorporated also declined by 9.98 per cent to close at ₦85.70, while Mecure Industries lost 9.96 per cent to finish at ₦85.75 per share.

Despite the bullish close, market activity weakened as total trading volume declined to 493.67 million shares valued at ₦28.02 billion in 49,969 deals.

Zenith Bank maintained its position as the most actively traded stock by both volume and value for the third consecutive session, with 94.29 million shares exchanged.

The bank’s trades accounted for 19.11 per cent of the total volume, while transactions worth ₦9.91 billion represented 35.60 per cent of the total value traded on the exchange.