Nigeria: Bulls persist at NGX as ASI adds 0.4%
Accordingly, the Month-to-Date and Year-to-Date returns settled at +16.6 percent and +35.9 percent, respectively.
This robust performance underscores sustained investor optimism and growing confidence in the resilience of market fundamentals.
Stockbrokers believe that the renewed interest in equities at the Nigerian Exchange is underpinned by increasing investor confidence following the release of strong half-year financial results by listed companies.
As measured by market breadth, market sentiment was negative, with 52 tickers losing relative to 28 gainers. On the performance board, AXA Mansard Insurance and Learn Africa recorded the most significant losses of the day, with their share prices dipping by 10 percent each, while Wema Bank and UAC Nigeria led the gainers with 10 percent appreciation in share value.
Sectoral performance was broadly mixed. The Industrial Goods, Oil & Gas, and Banking indices closed higher by 1.4 percent, 0.9 percent, and 0.1 percent, respectively, while the Insurance index declined. The Consumer Goods index closed flat.
The total volume of trades advanced by 20.3 percent to 1.11 billion units, valued at ₦33.65 billion, and exchanged in 37,370 deals.
First City Monument Bank Group was the most traded stock by volume at 121.54 million units, while Lafarge Africa was the most traded stock by value at ₦3.53 billion.
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