NGX Extends Rally As Investors Gain ₦1.86trn On Sustained Buying Interest

July 07, () — The Nigerian Exchange (NGX) sustained its bullish momentum on Tuesday, adding ₦1.86 trillion to investors’ wealth.

Market capitalisation appreciated by 1.24 percent to ₦152.135 trillion, from ₦150.271 trillion recorded at Monday’s close, while the benchmark All-Share Index (ASI) gained 2,905.05 points, or 1.24 percent, to close at 237,083.28, compared with 234,178.23 in the previous session.

Investor sentiment remained strongly positive, with market breadth closing at 54 gainers against 17 decliners.

Top five gainers

CADBURY surged 10.00 percent, (advancing from ₦56.00 to ₦61.60).

ZICHIS also rallied 10.00 percent, (climbing from ₦24.20 to ₦26.62).

NAHCO appreciated 9.99 percent, (rising from ₦133.65 to ₦147.00).

DAARCOMM gained 9.94 percent, (increasing from ₦1.81 to ₦1.99).

IKEJAHOTEL advanced 9.90 percent, (moving up from ₦42.95 to ₦47.20).

Top five decliners

CMFC topped the losers’ chart, plunging 10.00 percent (from ₦3.70 to ₦3.33).

FTGINSURE shed 10.00 percent, (declining from ₦2.90 to ₦2.61).

TRANSEXPR lost 10.00 percent, (falling from ₦3.00 to ₦2.70).

ETI retreated 9.98 percent, (dropping from ₦95.20 to ₦85.70).

MECURE slipped 9.96 percent, (easing from ₦94.90 to ₦85.45).

Meanwhile, Okomu Oil Palm Plc, Custodian Investment Plc, U.A.C.N Plc, Julius Berger Nigeria Plc, Champion Breweries Plc, Nestlé Nigeria Plc, and PZ Cussons Nigeria Plc, among others, closed flat for the session.

The market’s positive breadth and continued appreciation in the benchmark index indicate sustained investor optimism, renewed demand for fundamentally sound stocks outweighing profit-taking across the broader market.