The Nigerian Exchange Limited (NGX) closed the trading week on a positive note on Friday, with market capitalisation increasing by ₦141 billion from ₦164.973 trillion at the opening to ₦165.114 trillion at the close of trading. This represents a significant gain for the market, which had previously experienced a decline in valuation. The increase in market capitalisation was driven by a marginal gain in the All-Share Index.
The All-Share Index (ASI) advanced by 216.47 points, representing a 0.09 percent increase from 254,083.02 to 254,299.49 points. This gain extended Thursday’s recovery, when market capitalisation rose by ₦779 billion and the benchmark index appreciated by 0.47 percent. The marginal gain indicates a slowdown in the pace of recovery compared to the previous day.
Despite the positive movement in the headline indicators, market breadth remained negative, with 25 equities recording price gains against 32 decliners. The higher number of declining stocks indicated that selling pressure persisted across several equities, limiting the breadth of the market’s advance. This suggests that the gains were not widespread and that investors remained cautious.
Top gainers on the day included Honeywell Flour Mills, which advanced by 10.00 percent (₦20.50 to ₦22.55), and May & Baker, which gained 10.00 percent (₦38.00 to ₦41.80). Other gainers included Livestock Feeds, Eterna, and PZ Cussons Nigeria, which rose by 9.92 percent, 9.90 percent, and 9.85 percent respectively.
On the other hand, several equities recorded significant losses, including Caverton Offshore Support Group, which fell by 10.00 percent (₦4.00 to ₦3.60), and LivingTrust Mortgage Bank, which declined by 9.94 percent (₦3.22 to ₦2.90). Other decliners included Veritas Kapital Assurance, UPDC Plc, and Zichis Agro Allied Industries.
The session’s performance reflected a modest improvement in the overall market valuation, although the negative market breadth suggested that the gains were not widespread. Several equities closed unchanged during the session, including Dangote Cement, Seplat Energy, and Julius Berger Nigeria Plc, among others. This indicates mixed trading activity, as investors maintained positions in selected stocks while trading opportunities emerged elsewhere.
Overall, the market ended the week with a marginal gain in its benchmark indicators, but the higher number of decliners highlighted the uneven distribution of buying interest. Investors will continue to monitor corporate developments, price movements, and market breadth for indications of the Exchange’s direction in the coming week. Sustained buying interest across more equities would be important in supporting a broader recovery.
Key points
- The NGX closed the trading week with a ₦141 billion increase in market capitalisation to ₦165.114 trillion.
- The All-Share Index advanced by 0.09 percent to 254,299.49 points.
- Market breadth remained negative, with 25 gainers against 32 decliners.
