NGX gains N410bn as buying interest strengthens

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Equity trading on the Nigerian Exchange Limited rebounded on Tuesday, as renewed buying interest in industrial, consumer goods, and select banking stocks pushed the main indicators back into positive territory.

The All-Share Index gained 632.79 points or 0.26 per cent to close at 245,911.13 basis points, up from 245,278.34 basis points recorded on Monday. Similarly, the market capitalisation of listed equities expanded by N410.86bn or 0.26 per cent to stand at N159.67tn at the end of the day’s session, recovering a portion of the losses registered in the preceding session.

Market operations were conducted against a backdrop of a stable Monetary Policy Rate maintained at 23.00 per cent by the Central Bank of Nigeria.

Trading activity showed broad participation across sector indices, led by sharp recoveries in key manufacturing and industrial sectors. The NGX Industrial Index surged to 10,258.95 points from 10,140.51 points, while the NGX Consumer Goods Index advanced to 4,042.08 points.

The NGX Premium Index added 168.89 points to close at 30,540.53, while the NGX 30 Index edged higher to 9,043.59 points. Conversely, the NGX Banking Index softened slightly to 2,493.34 points from 2,497.01 points, alongside a slight retreat in the NGX Insurance Index to 1,068.32 points.

Individual stock performances revealed strong investor demand in select mid-cap and high-cap equities, with price gains headlined by Austin Laz & Company Plc, which leapt 9.97 per cent to N3.53 per share.

Electronics manufacturer Cutix Plc recorded a 9.91 per cent gain to end at N2.33, while ABC Transport Plc surged 9.92 per cent to N6.65. Paper manufacturer Thomas Wyatt Nigeria Plc rallied 9.77 per cent to N2.92, and Caverton Offshore Support Group Plc added 9.76 per cent to reach N4.50. In the industrial goods heavyweight tier, HBM Nigeria Plc appreciated 6.76 per cent to close at N379.00 per share. Additional notable gainers across the main board included Lasaco Assurance Plc, which advanced 8.57 per cent to N1.90, Nascon Allied Industries Plc, which climbed 7.31 per cent to N183.50, Royal Exchange Plc, up 6.93 per cent to N1.08, and Unilever Nigeria Plc, which surged 5.83 per cent to N109.00.

On the losing side, market pullbacks were led by agricultural and insurance stocks facing profit-taking pressure. Livestock Feeds Plc shed 9.76 per cent to close at N17.10 per share, while Guinea Insurance Plc dropped 7.78 per cent to end at N0.83. NPF Microfinance Bank Plc dropped 5.75 per cent to N4.10, Mutual Benefits Assurance Plc lost 4.69 per cent to N3.05, and AIICO Insurance Plc slipped 3.06 per cent to N3.80.

Market operator Nigerian Exchange Group Plc declined 3.03 per cent to N160.00, while Sterling Financial Holdings Company Plc fell 2.66 per cent to N77.00. Downward movement was also observed in UPDC Plc, which eased 2.53 per cent to N3.85, and McNichols Consolidated Plc, down 1.89 per cent to N5.20. Total turnover across the equities segment reached 348.69 million shares valued across 32,588 executed deals.

Activity on the Premium Board contributed 85.48 million shares traded in 5,801 trades, led by United Bank for Africa Plc with 48.14 million shares traded for N42.00 per share and Zenith Bank Plc with 21.01 million shares exchanged at N123.50.

On the Main Board, banking and financial institution counters dominated overall market volume, with FCMB Group Plc trading 30.12 million shares, Access Holdings Plc moving 7.72 million shares, and Guaranty Trust Holding Company Plc recording 16.07 million shares. Beyond the stock market, investors exchanged 181,051 units across Exchange Traded Funds in 640 trades, alongside 41,154 units of debt securities processed in 11 deals.

Jide, a seasoned journalist with over 12-year experience, reports business-related stories

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