Investor Wealth Surges by N1.2 Trillion in Three Days Amid Bullish Momentum on NGX

Investor wealth on the Nigerian Exchange Limited (NGX) experienced a remarkable surge, increasing by N1.2 trillion within three trading sessions. The bullish sentiment dominated the market as several blue-chip stocks saw a rise in valuations, further strengthening investor confidence.

At the start of trading on Monday, the market capitalization of listed equities stood at N66.069 trillion. By the close of trading yesterday, it had climbed to N67.274 trillion, marking an impressive N1.205 trillion increase, translating to a 1.8% growth. Similarly, the All-Share Index (ASI), which tracks the overall performance of stocks, advanced from 106,574.98 points to 107,822.52 points, reflecting a gain of 1,247.54 points or 1.8%.

 

Gains in medium largely drove the market’s strong performance- and large-cap stocks, particularly Presco, Transcorp Power, Dangote Cement, Transcorp Hotels, and VFD Group. These companies saw significant appreciation in their share prices, contributing to the market’s overall upward trajectory.

 

Additionally, market breadth—a measure of investor sentiment—was positive, with 51 stocks recording gains against 16 decliners. Among the top gainers were Ikeja Hotels and VFD Group, which closed at N14.85 and N52.80, respectively, marking an impressive 10% increase.

 

Other notable gainers included Eterna, which surged 9.93% to close at N48.70 per share, while Transcorp Hotels and Honeywell Flour Mills each appreciated by 9.99%, closing at N126.10 and N12.66, respectively.

 

Conversely, some stocks experienced declines, with CWG Plc leading the losers, shedding 8.95% to close at N8.65 per share. Regency Alliance Insurance followed closely, which dropped 7.89% to close at 70 kobo, and LASACO Assurance, which fell 7.25% to N3.20 per share.

 

Other stocks that recorded losses included Royal Exchange, which depreciated 7.22% to 90 kobo, and SCOA Nigeria, which dropped 6.54% to N3.43 per share.

 

Regarding market activity, the total volume of traded shares declined by 7.52%, with 462.145 million units exchanged, valued at N10.233 billion across 15,629 transactions.

 

Sterling Financial Holdings Company led the activity chart, with 49.612 million shares traded, worth N296.815 million. Zenith Bank followed closely, exchanging 25.55 million shares, valued at N1.308 billion.

 

Additionally, Ellah Lakes Plc recorded 34.505 million shares traded, amounting to N133.924 million. AIICO Insurance transacted 18.492 million shares, worth N32.203 million, while Access Holdings exchanged 19.59 million shares, with a total value of N553.68 million.

Overall, the Nigerian stock market remained positive, with investor confidence strengthened by the consistent gains in key stocks. The bullish trend, supported by increased demand for blue-chip stocks, indicates sustained investor optimism and a robust outlook for the market in the coming sessions.