The Nigerian Exchange (NGX) sustained its upward trajectory at the start of the week, with the All-Share Index closing at 118,579.65 and the market capitalization advancing to N74.8 trillion. The growth reflected renewed investor interest across several sectors, supported by rising volumes and strong momentum in select equities.
Trading activity was robust, with total volume reaching 653.6 million shares, an increase from the previous session. Fidelity Bank led the trading charts with 141.7 million shares exchanged, followed by Zenith Bank, Nigerian Breweries, FTN Cocoa, and Access Holdings.
Five stocks; Neimeth, FTN Cocoa, Presco, Champion Breweries, and Beta Glass closed at the upper limit of the exchange’s daily price movement, each recording a 10 percent gain. These gains contributed significantly to the overall market performance.
On the downside, Julius Berger, Chams, NSTech, Multiverse, and Red Star Express recorded the most notable losses for the day, although overall market sentiment remained positive.
The banking and consumer goods sectors continued to attract significant attention, with investors positioning ahead of anticipated mid-year corporate actions. Analysts suggest that if current trends persist, the index may approach the 120,000 mark in the near term.
