Investors smile as NGX Market value soars to N93.3trn

By Taiye Olayemi

The Nigerian Exchange Ltd. (NGX) extended its bullish run on Friday, with market capitalisation rising by 0.54 per cent or N497 billion to close at N93.295 trillion, up from N92.798 trillion recorded the previous day.

This marks the 11th consecutive session of sustained gains on the NGX, reflecting renewed investor confidence across key sectors.

Similarly, the All-Share Index (ASI) advanced by 793.70 points or 0.54 per cent, finishing at 146,988.04 points compared to Thursday’s 146,204.34 points.

The NGX Market performance was driven by impressive gains in Dangote Cement, NEM Insurance, Jaiz Bank, FTN Cocoa Processors, and 21 other equities.

Dangote Cement topped the gainers’ chart with a 6.48 per cent increase to close at N575 per share. FG202031S1 followed with a 6.18 per cent rise to N109.44, while NEM Insurance appreciated by 5.23 per cent to end trading at N29.15 per share.

Jaiz Bank gained 4.65 per cent to finish at N4.50, and FTN Cocoa Processors rose by 3.57 per cent to N5.80 per share.

However, the market breadth closed flat, with 25 gainers matched by 25 losers. Union Home Real Estate led the laggards with a 9.98 per cent loss to close at N51.85, followed by Meyer, which dipped 9.85 per cent to N15.10.

Sterling Nigeria declined 9.58 per cent to N7.55, while Cornerstone Insurance shed 6.90 per cent to N6.21. Etranzact International also fell 6.25 per cent to close at N15 per share.

Trading activity showed mixed performance, as market volume improved but deal value declined. A total of 386.6 million shares valued at N11.26 billion were exchanged in 21,842 deals, compared to 346.99 million shares worth N27.43 billion traded in 24,691 deals on Thursday.

Fidelity Bank once again led the activity chart with 47.3 million shares worth N959.3 million, followed by CHAMS, which traded 38.5 million shares valued at N169.8 million. Japaul Gold recorded 21.8 million shares worth N56 million, while Zenith Bank and FCMB exchanged 18.2 million and 18.1 million shares valued at N1.26 billion and N195.2 million respectively.

NGX Market analysts said the sustained rally signals growing investor optimism, supported by strong performances in industrial and financial stocks.