The Nigerian Exchange (NGX) ended trading on Friday on a positive note as investors recorded significant gains, with the benchmark All-Share Index (ASI) rising by 2.19 per cent to reverse part of the losses recorded earlier in the week.
At the close of trading, the NGX All-Share Index appreciated by 4,918.37 points to settle at 229,240.34, while the overall market capitalisation climbed to N147.1 trillion, reflecting renewed buying interest across major sectors of the market.
Despite the impressive rally, trading activity was mixed. A total of 454.86 million shares valued at N27.57 billion were exchanged in 48,147 deals, representing a 47 per cent decline in trading volume and a seven per cent drop in the number of deals compared to Thursday’s session. However, the value of transactions improved by three per cent.
Market breadth remained firmly positive, with 39 stocks recording price appreciation against 14 decliners out of the 133 listed equities that participated in trading.
Airtel Africa emerged as the day’s top performer, gaining 10 per cent to close at N5,274 per share. Other notable gainers included The Initiates Plc, Omatek Ventures Plc, and Daar Communications Plc, all of which also posted the maximum daily gain of 10 per cent.
On the losers’ chart, International Energy Insurance Plc recorded the steepest decline after shedding 9.96 per cent to close at N4.70 per share. It was followed by Meyer Plc, which fell 9.95 per cent, Fortis Global Insurance Plc, down 9.8 per cent, and Sovereign Trust Insurance Plc, which lost 5.34 per cent.
Activity on the trading floor was dominated by banking and industrial stocks. Zenith Bank Plc led the volume chart with 49.8 million shares traded, closely followed by The Initiates Plc with 49.3 million shares. Chams Holding Company Plc and United Bank for Africa Plc also featured prominently, recording 28.4 million and 27.8 million traded shares respectively.
Sectoral performance was broadly bullish. The NGX Banking Index advanced 2.78 per cent, while the NGX Top 30 Index gained 2.26 per cent. The NGX Premium Index appreciated by 2.20 per cent, the NGX Main Board Index rose 2.21 per cent, and the NGX Pension Index climbed 2.52 per cent. The NGX Insurance Index also posted a modest gain of 1.26 per cent.
Although the market closed higher on Friday, the benchmark index still reflected a one-week decline of 1.21 per cent and a four-week loss of 5.36 per cent. Nevertheless, the exchange has maintained a robust year-to-date performance, with the All-Share Index posting a gain of 47.31 per cent, underscoring continued investor confidence in the Nigerian equities market despite recent volatility.
