Investors in the Nigerian Exchange Limited (NGX) recorded a substantial N1.157 trillion single-day gain on Thursday, closing the week on a high note amid the 2025 Eid-Al-Adha celebration.
Market capitalization rose significantly by 1.63 percent to close at N72.275 trillion, up from N71.118 trillion recorded on Wednesday. Correspondingly, the All-Share Index (ASI) increased by 1,835.02 points, or 1.63 percent, settling at 114,616.75 from its previous close of 112,781.73.
Strong Performance Across Key Stocks
Market data revealed that the impressive gain was fueled by strong buying interest in medium and large-capitalized stocks. The market breadth closed positive, with 41 gainers outpacing 22 losers.
Leading the gainers' table, Champion Breweries grew by 10 percent to close at N7.70, while the Nigerian Exchange Group also increased by 10 percent, settling at N39.60 per share. MTN Nigeria rose by 9.99 percent to end at N319.20, and Oando soared by 9.96 percent, closing at N56.85 per share. Morison Industries also performed well, climbing by 9.90 percent to finish at N3.22 per share.
Notable Decliners
On the flip side, Northern Nigeria Flour Mills led the losers with a 9.97 percent drop, closing at N125.05. ABC Transport lost 9.77 percent to finish at N2.40 per share, while Legend Internet fell by 9.49 percent, settling at N5.34. Livestock Feeds shed 7.82 percent to end at N8.25 per share, and Omatek Ventures declined by 7.59 percent, closing at 73k per share.
Trading Volume and Value
Trading activity saw a significant increase with a total of 1.46 billion shares worth N33.47 billion exchanged across 16,410 transactions. This represents a substantial rise compared to the previous session's 611.53 million shares valued at N16.68 billion traded across 13,682 transactions.
Fidelity Bank dominated the activity chart with 829.72 million shares worth N15.97 billion changing hands. Legend Internet followed with 180.30 million shares valued at N1.02 billion, while Zenith Bank traded 62.82 million shares worth N3.13 billion. JaPaul Gold and Guaranty Trust Holding Company also saw significant activity, with 34.84 million shares (N69.60 million) and 30.91 million shares (N2.16 billion) traded respectively.
BenriNews reports that with Thursday's gains, the NGX has recorded at least three consecutive uptrends in the week under review, signaling growing investor confidence in the Nigerian stock market despite the holiday period.
Follow BenriNews for more market updates:
