Latest news with #bullishrun
Zawya
5 days ago
- Business
- Zawya
Nigeria: Equities investors earn $419mln on bullish run at NGX
The Nigerian equities market extended its bullish run for another week, as sustained investor confidence drove the NGX All-Share Index (ASI) higher by 0.70 percent to close at 145,813.86 basis points. On Wednesday, the sentiments were buoyed by bargain hunting in BUA Cement, Transcorp Hotels and Oando as these companies appreciated in share value by 7.3 per cent, 10.0 per cent and 9.5 per cent, respectively. Accordingly, the Month-to-Date and Year-to-Date returns settled higher at +4.3 per cent and +41.7 per cent, respectively This positive momentum underscores growing optimism around the resilience of market fundamentals and corporate earnings potential. As a result, market capitalisation rose by N643 billion to settle at N92.25 trillion. Investor sentiment remained broadly upbeat, with market breadth turning positive—53 stocks recorded gains, while 26 posted losses—highlighting the ongoing tug-of-war between bargain hunters and profit-takers. Top gainers for the week included SCOA Nigeria, Haldane MCall, Learn Africa, AXA Mansard, and Mutual Benefits Assurance, while notable laggards such as NGX Group, UAC Nigeria, Union Homes Real Estate Investment Trust, Living Trust Mortgage Bank and Multiverse Mining and Exploration recorded steep weekly losses of 10.00 percent, 9.93 percent, and 9.68 percent respectively. Sectoral performance was mixed. The Insurance, Industrial Goods and Oil & Gas sectors closed in the green, having appreciated by 9.87 per cent, 2.85 per cent and 0.96 per cent, respectively, buoyed by renewed interest and earnings-related sentiment. Conversely, the Banking and Consumer Goods sectors came under mild pressure with 0.36 per cent and 0.41 percent respective dip, while the Commodity sector ended flat. Despite an 8.69 per cent decline in the number of executed deals, overall market activity was vibrant. Trading volume surged by 168.02 per cent to 2.69 billion shares, while total turnover value rose by 46.62 per cent to N32.63 billion, exchanged across 35,137 deals. Linkage Assurance was the most traded stock by volume at 562.32 million units, while Zenith Bank was the most traded stock by value at N4.55 billion. Copyright © 2022 Nigerian Tribune Provided by SyndiGate Media Inc. (
Zawya
11-07-2025
- Business
- Zawya
Nigeria: NGX market caps rise to $51.4bln as GTCO lists new shares
The Nigerian stock market maintained its bullish run to close trading session on a positive note on Thursday, amidst despite recording mixed outcomes in key performance indicators. The Nigerian Exchange (NGX) market capitalization increased by N1.76 trillion, representing a 2.28 percent increase to settle at N78.73 trillion following Guaranty Trust Holding Company's (GTCO) new listing. The All Share Index (ASI) surged by 2.01 percent, adding 2,457.13 basis points to close at a new all-time high of 124,446.80 basis points. Hence, the market index and the market capitalization diverged, as Nigerian Exchange lists GTCO Plc's public offer of 2,288,250,000 ordinary shares of 50 kobo each at N70.00 per share on the exchange on Thursday. Investor sentiment remained largely positive, as reflected in the market breadth, with the local bourse recording its seventh consecutive session of gains. With the booming trade, the market breadth closed largely positive, recording 70 gainers and 10 losers. In addition, the market sectoral performance was positive. FTN Cocoa Processor, Haldane Mccall Holdings, United Bank for Africa, UACN Property Development Company, Caverton Offshore Support Group and Consolidated Hallmark Holdings topped the advancers' chart for today with a price appreciation of 10.00 percent each. Other gainers include Redstar Express, ABC Transport Services, CAP, Ellah Lakes, AIICO Insurance and fifty-nine others. Ten stocks depreciated, according to trading details obtained from the Nigerian market. Conversely, Neimeth International Pharmaceuticals was the top loser, with a price depreciation of -9.91 percent. Other decliners include Legend Internet Services, Cadbury Nigeria, Livestock, VFD Group and Dangote Sugar. The sustained rally was primarily driven by strong buying interest across all the major market sectors. All five major market sectors were up, led by the insurance sector, which grew by +3.96 percent, followed by the banking sector, up by +3.86 percent, and the consumer goods sector, which gained +1.15 percent. Also, the industrial sector rose by +0.25 percent, and the oil & gas sector saw a moderate uptick of +0.04 percent. On Thursday, trading activities improved as the total volume and total value of trades increased by 44.05 percent and 77.62 percent respectively. Approximately 1,280.16 million units valued at N27,726.76 million were transacted across 27,875 deals. In terms of volume, Access Holdings led the activity chart, accounting for 13.62 percent of the total volume of trades, followed by AIICO Insurance, Japaul Gold Ventures, United Bank for Africa and First City Monument Bank (FCMB Group), rounding out the top five. Access Holdings also emerged as the most traded stock in value terms, accounting for 14.38 percent of the total value of all stock transactions conducted on the exchange. Copyright © 2022 Nigerian Tribune Provided by SyndiGate Media Inc. (
