Equities acquire as NGX posts N6.88bn modest development

The Nigerian Alternate Restricted closed Wednesday’s buying and selling session on a constructive notice, as equities gained marginally amid broad-based shopping for curiosity that lifted market capitalisation by N6.88bn.

On the shut of buying and selling, the entire market capitalisation of listed equities rose to N106.44tn from the N106.43tn recorded within the earlier session. On the identical time, the All-Share Index inched up by 10.77 factors, or 0.01 per cent, to shut at 166,267.60, in contrast with 166,256.83 on Tuesday.

Market exercise was combined, as a complete of 822.73 million shares valued at N24.93bn had been exchanged in 43,514 offers. This represented a 3 per cent enchancment in buying and selling quantity and a 25 per cent improve in turnover, though the variety of offers declined by 4 per cent when put next with the previous buying and selling day.

By way of market breadth, sentiment remained firmly constructive, with 54 gainers outweighing 24 losers throughout the 130 equities that participated in buying and selling. NCR Nigeria led the gainers’ chart, appreciating by 10 per cent to shut at N171.05 per share. It was adopted by McNichols Plc, which additionally gained 10 per cent to shut at N6.93, whereas RT Briscoe Plc superior by 10 per cent to N4.95. Jaiz Bank added 9.99 per cent to shut at N7.93, and Might & Baker Nigeria Plc rose by 9.95 per cent to N43.65.

On the losers’ desk, UPDC Actual Property Funding Belief topped the checklist, shedding 9.68 per cent to shut at N8.40 per unit. Champion Breweries declined by 9.31 per cent to N19.00, whereas Safe Digital Know-how misplaced 6.78 per cent to shut at N1.10. Coronation Insurance coverage dropped by 6.69 per cent to N3.35, and Fairness Assurance fell by 6.00 per cent to N47.00.

Buying and selling exercise was dominated by Zichis Agro Allied Industries, which recorded the very best quantity with 69.22 million shares traded. It was adopted by Safe Digital Know-how with 54.80 million shares, Entry Holdings with 40.11 million shares, and Zenith Bank with 38.11 million shares.

In worth phrases, Stanbic IBTC Holdings emerged as probably the most traded inventory, with transactions value N2.78bn. Zenith Bank adopted intently with trades valued at N2.74bn, whereas Nigerian Breweries recorded N2.44bn in traded worth.

GTCO and Aradel Holdings additionally featured among the many high worth drivers, with trades valued at N2.17bn and N1.44bn, respectively.

Analysts attributed the modest market development to sustained curiosity in choose banking, client items and industrial shares, noting that the enhancing market breadth suggests a cautious however regular return of investor confidence. They added that whereas positive factors stay marginal, continued accumulation of essentially robust shares may assist additional upside within the close to time period, topic to macroeconomic and liquidity circumstances.