Nigerian stock market ASI gains 5.13% on Thursday
- Despite the holiday-shortened week, the Nigerian stock market NGX All-Share Index gained by 5.13% w/w. the market return was driven by bargain-hunting activities in sectors, including the Consumer Goods (+6.20%), Banking (+5.38%), and Insurance (+4.41%), reflecting broad-based investor optimism across key segments of the Nigerian equities market.
- In the final trading session of the week, the Nigerian equities market closed the session on a positive note, adding 1.63% to the benchmark index to close at 114,616.75 points. In the same vein, the market capitalisation gained 1.63%, ending the day at N72.28trn. This brought the year-to-date return on the index to 9.58%. Investor sentiment remained largely positive, driven by strong performances in key stocks such as MTNN (+9.99%), OANDO (+9.96%), and ACCESSCORP (+5.45%).
- Trade metrics improved as well, with volume jumping by 139.05% to 1.46m units, while the value of transactions increased by 100.68% to N33.47bn. The number of trades executed also edged up by 19.94% to 16,410 deals. FIDELITYBK (+1.32%) topped the volume and value charts with 829.73m shares traded in deals worth N15.97bn.
- Market breadth closed positive at a 1.74-to-1 ratio as gainers outnumbered losers. CHAMPION (+10.00%) led 39 others on the gainers table, while NFM (-9.97%) led 22 others on the laggards’ log.
NASD Summary
- The NASD OTC Securities Exchange NSI rose by 1.42% in today’s trading session, reaching 3,338.8 points, with the market capitalisation also increasing by 1.42% to N1.96trn, reflecting overall positive sentiment in the OTC market.
- Trading activity surged, with volume up by 36.68%, value up by 62.11%, and the number of trades climbing 69.70%, indicating heightened investor participation and stronger market liquidity.
