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On Wednesday, the Nigerian Exchange (NGX) experienced a significant surge, with the market capitalization rising by N314 billion, or 0.56%, to close at N56.447 trillion. The All-Share Index also increased by 0.56% or 545 points, reaching 98,230.92 points, up from 97,685.64 points.
This positive performance was driven by robust trading in Geregu, FBN Holdings, Access Corporation, Fidelity Bank, Oando Plc, and United Capital, among others. The Year-To-Date (YTD) return climbed to 31.37%. The market breadth was positive, with 28 gainers outnumbering 26 losers.
Sky Shelter Fund Plc led the gainers with a 9.99% increase to N179.45, followed closely by Honeywell Flour with a 9.96% rise to N5.41. Meyer Plc advanced by 9.95% to N6.41, Academy Press rose by 9.89% to N2.89, and Caverton appreciated by 9.68% to N3.06.
On the flip side, Northern Nigeria Flour Mills led the losers, falling 10% to N39.15, while Berger Paints declined by 9.81% to N21.60. Deap Capital Management and Trust Plc, Livestock, and Omatek also saw declines of 9.68%, 9.09%, and 9.09%, respectively.
Despite the overall positive movement, trade turnover decreased, with the value of transactions dropping by 19.49%. A total of 361.30 million shares valued at N7.57 billion were traded in 9,627 deals, compared to 471.30 million shares worth N9.40 billion in 12,061 deals previously.
Japaul Gold led in volume with 64.04 million shares traded, while Geregu led in value with transactions amounting to N1.34 billion.
