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The Nigerian Exchange Ltd. (NGX) saw a notable increase in market capitalization, rising by N270 billion, or 0.48%, due to strong investor interest in key stocks such as MTN Nigeria, Zenith Bank, and FBN Holdings.

The market capitalization, which began the day at N55.708 trillion, closed at N55.978 trillion. Similarly, the All-Share Index advanced by 0.48%, adding 476 points to reach 98,592.12, up from 98,116.27 recorded on Thursday.

This upward movement increased the Year-To-Date (YTD) return to 31.87%. Market breadth was positive, with 38 stocks gaining and 18 losing value.

Top Gainers and Losers

Leading the gainers were ABC Transport, Eterna Plc, Julius Berger, and United Capital, each surging by 10% to close at 77k, N19.80, N110, and N15.95 per share, respectively. Mecure followed with a 9.94% increase, ending the day at N8.52 per share.

Conversely, Union Dicon Salt topped the losers’ chart with a 9.88% decline, closing at N7.30. UPL was next, falling by 8.97% to end at N2.18 per share. Custodian dropped 8.59% to close at N11.70, Omatek lost 7.14% to settle at 65k, and Axa Mansard decreased by 6.85% to close at N5.03 per share.

Market Activity

Market turnover decreased compared to the previous session, with transaction values dropping by 46%. A total of 477.44 million shares worth N8.17 billion were traded in 9,529 deals, compared to 791.78 million shares valued at N15.13 billion traded in 9,059 deals the previous session.

Veritas Kapital led in volume, trading 103.24 million shares valued at N125.59 million. Oando topped the value table, with 52.39 million shares worth N2.13 billion exchanged.

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