NEWS
NGX Closes Week Higher As Market Capitalisation Rises To ₦165.11trn
NGX Closes Week Higher As Market Capitalisation Rises To ₦165.11trn
Market capitalisation gained ₦141 billion to close at ₦165.114 trillion.
The All-Share Index advanced by 0.09 percent to 254,299.49 points.
Market breadth remained negative, with 25 gainers against 32 decliners, as Honeywell Flour Mills and May & Baker led the gainers with 10.00 percent increases.
October 30, () – The Nigerian Exchange Limited (NGX) closed the trading week on a positive note on Friday, as market capitalisation increased by ₦141 billion from ₦164.973 trillion at the opening to ₦165.114 trillion at the close of trading.
The All-Share Index (ASI) also advanced by 216.47 points, representing a 0.09 percent increase from 254,083.02 to 254,299.49 points. The marginal gain extended Thursday’s recovery, when market capitalisation rose by N779 billion and the benchmark index appreciated by 0.47 percent.
Despite the positive movement in the headline indicators, market breadth remained negative, with 25 equities recording price gains against 32 decliners. The higher number of declining stocks indicated that selling pressure persisted across several equities, limiting the breadth of the market’s advance.
Top Gainers
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Honeywell Flour Mills advanced by 10.00 percent (₦20.50 to ₦22.55).
May & Baker gained 10.00 percent (₦38.00 to ₦41.80).
Livestock Feeds rose by 9.92 percent (₦12.10 to ₦13.30).
Eterna appreciated by 9.90 percent (₦38.90 to ₦42.75).
PZ Cussons Nigeria gained 9.85 percent (₦65.50 to ₦71.95).
Top Decliners
Channel
Caverton Offshore Support Group fell by 10.00 percent (₦4.00 to ₦3.60).
LivingTrust Mortgage Bank declined by 9.94 percent (₦3.22 to ₦2.90).
Veritas Kapital Assurance shed 9.91 percent (₦1.11 to ₦1.00).
UPDC Plc lost 9.46 percent (₦3.70 to ₦3.35).
Zichis Agro Allied Industries declined by 9.46 percent (₦18.40 to ₦16.66).
Several equities closed unchanged during the session, including Dangote Cement, Seplat Energy, Ellah Lakes, John Holt Plc and Julius Berger Nigeria Plc, among others.
The session’s performance reflected a modest improvement in the overall market valuation, although the negative market breadth suggested that the gains were not widespread. The ASI’s 0.09 percent increase was considerably lower than Thursday’s 0.47 percent advance, indicating a slowdown in the pace of recovery.
The unchanged positions recorded by several major equities also reflected mixed trading activity, as investors maintained positions in selected stocks while trading opportunities emerged elsewhere.
Overall, the market ended the week with a marginal gain in its benchmark indicators, but the higher number of decliners highlighted the uneven distribution of buying interest. Investors will continue to monitor corporate developments, price movements and market breadth for indications of the Exchange’s direction in the coming week. Sustained buying interest across more equities would be important in supporting a broader recovery.
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