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The Nigerian Exchange (NGX) witnessed a significant boost in equities market capitalization on Friday, with an increase of approximately N248 billion. This growth was driven by a sustained rally in growth stocks, marking a positive start to the New Year for investors. Trading data indicated that the local bourse closed the first week of the year on a high note, with key performance indicators rising by +0.64% over the initial two trading days.
Market analysts attributed the positive performance to renewed investor confidence, particularly in large and mid-cap stocks across NGX indices. The rally was notably supported by heightened interest in insurance stocks, with the index recording an impressive growth of +18.05% during the two days.
The NGX All-Share Index advanced by 406.19 basis points on Friday, representing a +0.39% increase to close at 103,586.33. Despite the positive trend, market activities were mixed as the total trading volume declined by 14.52%, while the total traded value rose by 45.48%.
According to Atlass Portfolios Limited, approximately 709.28 million units worth N8,243.48 million were exchanged across 13,593 deals. In terms of volume, CHAMS led the activity chart, accounting for 8.20% of the total volume traded. Other major contributors included VERITASKAP (7.78%), ABBEYBDS (7.08%), AIICO (5.60%), and NPFMCRFBK (4.83%). On the value front, FBNH emerged as the top-traded stock, representing 5.98% of the total transaction value.
The day’s top gainers included CHAMS, LEARNAFRCA, TIP, ABBEYBDS, NCR, OMATEK, REGALINS, and ROYALEX, each achieving a price appreciation of 10.00%. Additional notable gainers were REDSTAREX (+9.98%), CHAMPION (+9.97%), HONYFLOUR (+9.97%), NEIMETH (+9.96%), and AFRIPRUD (+9.96%).
Conversely, ten stocks recorded losses, with TOTAL leading the decliners’ chart, dropping by -9.74%. Other notable losers included CWG (-6.04%), THOMASWY (-5.26%), ABCTRANS (-4.07%), OANDO (-1.98%), and FBNH (-0.89%).
Sectoral performance was predominantly positive, with the Insurance index surging by +7.81%, driven by gains in MANSARD (+9.42%). The Banking (+1.08%), Consumer Goods (+0.52%), and Industrial Goods (+0.33%) indices also edged higher, bolstered by buying interest in UBA (+2.05%), INTBREW (+1.82%), and WAPCO (+2.51%), respectively. However, the Oil & Gas index declined by -0.49%, as investors took profit on TOTAL (-9.74%).
Overall, the equities market capitalization on the NGX increased by N247.70 billion, closing at N63.17 trillion. This marked a promising start to the year, reflecting broad-based investor optimism and robust market activity.
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