Nigerian Exchange Hits N110 Trillion Market Cap as Investors Gain N1.1 Trillion

LAGOS, NIGERIA — The Nigerian Exchange Limited (NGX) ended the trading week on a high note Friday, as investors recorded gains of N1.105 trillion and market capitalization surpassed the N110 trillion mark.
Market capitalization rose by 1.01 per cent, climbing from N109.129 trillion to N110.234 trillion at the close of trading. The All-Share Index similarly advanced by 1,722.13 points, or 1.01 per cent, to settle at 171,727.49, boosting the year-to-date return to 10.36 per cent.
Strong demand for stocks, including Nigerian Aviation Handling Company, Deap Capital Management, Omatek Ventures, Zichis Agro Allied Industries, and Austinlaz, drove the positive sentiment. Overall, market breadth closed positive, with 60 gainers against 19 losers.
Top gainers included Nigerian Aviation Handling Company, Deap Capital Management, and Omatek Ventures, each rising 10 per cent to close at N136.40, N6.82, and N2.64 per share, respectively. On the decline, The Initiates led the losers with a 9.74 per cent drop to N19.45, followed by Daar Communications (-7.32% to N1.90) and United Capital (-6.55% to N18.55).
Trading activity surged as investors exchanged 953.8 million shares valued at N43.1 billion across 51,005 deals, compared to 712.9 million shares worth N22.3 billion traded in 46,104 deals previously. This represented a 34 per cent increase in volume, a 94 per cent rise in turnover, and an 11 per cent growth in the number of deals.
Fidelity Bank recorded the highest trading volume with 92.39 million shares, representing 9.69 per cent of total volume, while Presco emerged as the most traded stock by value, with transactions worth N11.27 billion, accounting for 26.15 per cent of the day’s total value.