NGX rally drives N861bn investor gain, All‑Share at 219,586

The Nigerian Stock Exchange (NSE) continued its upward trajectory on Wednesday, adding N861 billion to investors’ portfolios. Market capitalisation rose 0.61 per cent to N141.384 trillion, up from N140.523 trillion in the previous session. The All‑Share Index gained 1,336.39 points, or 0.61 per cent, closing at 219,586.20, compared with 218,249.81 on Tuesday.

Year‑to‑date returns improved to 41.11 per cent, underscoring the market’s strong performance in 2024. Breadth remained positive, with 31 stocks posting gains against 28 losers.

Among the top performers, Transcorp Hotels, Vitafoam, UAC of Nigeria and Chemical and Allied Products each rose roughly 10 per cent. Their closing prices were N223.30, N143.00, N121.00 and N110.00 respectively.

The declining side was led by Neimeth Pharmaceuticals, which fell 10 per cent to N9.00 per share. Abbey Mortgage Bank slipped 9.85 per cent to N5.95, Livingtrust Mortgage Bank dropped 8.94 per cent to N3.36, ABC Transport fell 8.65 per cent to N5.70, and Haldane McCall declined 6.23 per cent to N3.61.

Trading volume contracted 18.85 per cent, with 683.68 million shares changing hands, valued at N36.17 billion across 51,694 transactions. First HoldCo emerged as the most active stock, moving 76.64 million shares worth N5.78 billion. The company accounted for 11.21 per cent of total volume and 15.99 per cent of the session’s value.

The rally reflects continued investor confidence in Nigeria’s equity market despite a modest slowdown in trading activity. With the All‑Share Index holding above the 219,000‑point mark and market‑wide gains persisting, market participants will likely monitor upcoming corporate earnings and macro‑economic data for cues on the next phase of momentum.