NEWS
NGX Gains ₦2.32trn As All-Share Index Advances 1.44 Percent
NGX Gains ₦2.32trn As All-Share Index Advances 1.44 Percent
Market capitalisation increased by ₦2.324 trillion to ₦163.917 trillion.
The All-Share Index advanced by 3,579.52 points to close at 252,456.74.
Market breadth remained negative, with 28 decliners against 21 gainers, despite the market’s overall recovery.
November 9, () – The Nigerian Exchange Limited (NGX) began the new trading week on a positive note on Monday, as market capitalisation increased by ₦2.324 trillion from ₦161.593 trillion at the opening to ₦163.917 trillion at the close of trading.
The All-Share Index (ASI) also advanced by 3,579.52 points, representing a 1.44 percent increase from 248,877.22 to 252,456.74 points. The recovery followed last week’s decline, when the benchmark index depreciated by 2.13 percent to close at 248,877.22 points, while market capitalisation fell to ₦161.594 trillion.
Despite the improvement in the benchmark index, market breadth remained negative, as 28 equities recorded price declines against 21 gainers. The figures indicated that losses still outnumbered advances, even as gains in selected stocks supported the broader market’s recovery.
Top Gainers
Every second brings Nigerians closer to exercising their democratic right and shaping the future of our nation.
Exercise your democratic right responsibly, peacefully and lawfully.
Mansard Insurance advanced by 9.75 percent (₦11.80 to ₦12.95).
Sovereign Trust Insurance gained 9.74 percent (₦1.95 to ₦2.14).
Dangote Cement rose by 9.61 percent (₦1,341.00 to ₦1,469.90).
Oando appreciated by 8.46 percent (₦33.10 to ₦35.90).
Fidelity Bank gained 6.85 percent (₦23.35 to ₦24.95).
Top Decliners
Channel
Thomas Wyatt declined by 6.85 percent (₦2.60 to ₦2.35).
UPL fell by 8.70 percent (₦4.60 to ₦4.20).
FTG Insurance shed 7.38 percent (₦1.49 to ₦1.38).
TIP lost 6.88 percent (₦26.90 to ₦25.05).
Zichis declined by 5.59 percent (₦17.00 to ₦16.05).
Several equities closed unchanged during the session, including MTN Nigeria Communications, Seplat Energy Plc, Presco Plc, Custodian Investment Plc and John Holt Plc, among others.
The market’s performance marked a rebound from the previous week’s losses, with the ₦2.324 trillion increase in capitalisation indicating a recovery in the value of listed equities. The ASI’s 1.44 percent appreciation also represented a notable advance after the benchmark index lost 2.13 percent over the preceding week.
However, the number of declining stocks exceeded that of advancing equities, suggesting that the recovery was not broad-based. UPL recorded the steepest decline among the five leading losers, shedding 8.70 percent, followed by FTG Insurance, TIP and Thomas Wyatt.
The unchanged positions of major stocks such as MTN Nigeria Communications, Seplat Energy, Presco and Custodian Investment also reflected mixed trading activity across the market.
Investors will be watching whether the positive movement in the ASI can be sustained in subsequent sessions and whether buying interest spreads to more listed equities. A shift towards positive market breadth would provide a stronger indication of improving market sentiment.
DO YOU WANT TO WHISTLEBLOW, REPORT FRAUD, THEFT OR INJUSTICE OR INTIMIDATION? SEND US YOUR STORY/REPORT TO NEWSDESK@MEDIATODAY.NG
