NGX Rebounds Strongly As Investors Gain ₦3.17trn

July 6, () — The Nigerian Exchange (NGX) kicked off the new trading week on a bullish note, adding ₦3.17 trillion to investors’ wealth.

Market capitalisation appreciated by 2.15 percent to ₦150.271 trillion, from ₦147.102 trillion recorded at Friday’s close, while the benchmark All-Share Index (ASI) advanced by 4,937.89 points, or 2.15 percent, to close at 234,178.23, compared with 229,240.34 in the previous session.

Investor sentiment remained firmly positive, as market breadth closed at 54 gainers against 12 decliners, reflecting broad-based buying interest and renewed confidence across the equities market.

Top five gainers

FIRSTHOLDCO surged 10.00 percent, (advancing from ₦55.00 to ₦60.50).

WEMABANK also rallied 10.00 percent, (climbing from ₦27.00 to ₦29.70).

ARADEL appreciated 9.99 percent, (rising from ₦1,275.80 to ₦1,403.30).

NGXGROUP gained 9.96 percent, (increasing from ₦118.00 to ₦129.75).

VERITASKAP advanced 9.92 percent, (moving up from ₦1.31 to ₦1.44).

Top five decliners

NAHCO topped the losers’ chart, plunging 10.00 percent (from ₦148.50 to ₦133.65).

VITAFOAM shed 10.00 percent, (declining from ₦189.00 to ₦170.10).

CAP lost 9.99 percent, (falling from ₦175.10 to ₦157.60).

FTGINSURE retreated 9.94 percent, (dropping from ₦3.22 to ₦2.90).

THOMASWY slipped 9.45 percent, (easing from ₦2.75 to ₦2.49).

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

The market’s strong breadth and impressive gains across banking, energy and exchange-related stocks suggest bargain hunting returned in force, with investors taking fresh positions in fundamentally strong counters following recent weeks of market volatility.