NEWS
NGX Rebounds as ASI Gains 0.28 Percent, Market Cap Rises N437bn
NGX Rebounds as ASI Gains 0.28 Percent, Market Cap Rises N437bn
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The NGX rebounded on Friday, with the All-Share Index rising 0.28 percent to 243,052.74 points.
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Market capitalisation climbed by N437 billion to N157.587 trillion, while market breadth strengthened with 31 gainers against 18 decliners.
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Abbey Mortgage Bank and UPDC REIT topped the gainers with 10 percent rallies, while John Holt and Austin Laz recorded the steepest losses.
September 11, () – The Nigerian Exchange Limited (NGX) closed Friday’s session on a firmer footing, as renewed buying interest across selected equities lifted the All-Share Index (ASI) by 674.61 points.
The benchmark index opened at 242,378.13 and closed at 243,052.74, representing a 0.28 percent gain.
Similarly, market capitalisation expanded by N437 billion, rising from N157.150 trillion at the opening to N157.587 trillion at the close.
Market breadth also improved, with 31 equities recording gains against 18 decliners, reflecting stronger positive participation despite continued sell-offs in some stocks.
The session’s performance marked a recovery from the previous session, when the ASI edged up only 0.06 percent amid 23 gainers and 30 decliners.
Pricing Session
Top Gainers for the session.
On the gainers’ chart;
- ABBEYBANK surged 10.00 percent (N6.50 to N7.15).
- UPDCREIT soared 10.00 percent (N12.50 to N13.75).
- OMATEK rallied 9.60 percent (N1.25 to N1.37).
- CONHALLPLC jumped 9.06 percent (N5.96 to N6.50).
- CHAMS leapt 8.90 percent (N3.37 to N3.67).
Top Decliners for the session.
On the decliners’ side;
- JOHNHOLT plunged 10.00 percent (N10.00 to N9.00).
- AUSTINLAZ tumbled 9.55 percent (N2.20 to N1.99).
- ROYALEX slumped 9.09 percent (N0.99 to N0.90).
- UPDC shed 5.88 percent (N3.40 to N3.20).
- NSLTECH slid 4.41 percent (N0.68 to N0.65).
Seplat Energy Plc, Presco Oil Plc, Julius Berger, Champion Breweries, Cadbury Nigeria and Nestlé Nigeria, among others, closed flat for the session.
Investor Sentiment and Outlook
Friday’s stronger breadth and 0.28 percent rise in the ASI point to a firmer trading session, with buying interest concentrated in selected equities.
The N437 billion increase in market capitalisation also suggests that gains in some stocks, particularly higher-priced equities, provided meaningful support to the overall market.
However, the presence of sharp losses among several equities shows that the recovery remains uneven.
Continued interest in heavyweight and fundamentally positioned stocks will be important in determining whether the market can sustain its rebound in subsequent sessions.
