NGX Bounces Back With N26 Billion Gain In Single Day

NGX Bounces Back With N26 Billion Gain In Single Day

The Nigerian Exchange Limited (NGX) witnessed a significant rebound on Thursday, with investors gaining N26 billion in a single day. Market data revealed that the market capitalization, which commenced at N55.494 trillion, surged by N26 billion or 0.05 percent to close at N55.520 trillion…..READ ALSO NGX Witnesses Surge With N36.5bn Equity Turnover In 42,546 Deals

Similarly, the All-Share Index experienced a positive uptick, rising by 0.05 percent or 48 points to conclude at 98,169.30, compared to the previous day’s close of 98,121.30.

As a result, the Year-To-Date (YTD) return increased to 31.29 percent, reflecting renewed investor confidence in the market.

However, market breadth closed negative, with 24 equities recording declines and 16 others registering gains.

Leading the gainers’ chart were Transcorp Hotel, which surged by 9.75 percent to close at N96.50, followed by Livestock Feed Plc, rising by 9.42 percent to N1.51 per share. Tantalizers gained 9.38 percent to close at 35k, while Sunu Assurances and Wapic Insurance added 7.44 percent and 6.15 percent respectively.

Conversely, Sterling Nigeria topped the losers’ list, declining by 9.69 percent to N3.82, trailed by Computer Warehouse Group, which dropped 9.57 percent to N5.20 per share.

Despite the market’s positive performance, trade turnover settled lower compared to the previous session. A total of 297.20 million shares, valued at N6.52 billion, were exchanged in 7,417 deals. This represents a decrease of 31.95 percent in trade value relative to the preceding session.

Zenith Bank led both the volume and value charts, trading 48.49 million shares worth N1.77 billion, followed by Access Corporation with 39.88 million shares valued at N639.98 million.

The positive turnaround in the NGX comes after two consecutive days of declines, signaling a resurgence in investor activity and optimism in the market.

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