The Nigerian Exchange Limited (NGX) recorded a bullish session on Thursday, gaining N257 billion in market capitalisation as investors showed strong interest in consumer goods and industrial stocks, with Nestle Nigeria Plc, Honeywell Flour Mill Plc, and Beta Glass Plc leading the rally.
At the close of trading, the market capitalisation rose to N68.8 trillion, up from N68.54 trillion in the previous session. Similarly, the All-Share Index (ASI) gained 408.31 points, representing a 0.37 per cent increase, to settle at 109,467.64 basis points.
Nestle Nigeria topped the gainers’ chart, appreciating by 10 per cent to close at N1,331.00 per share. Honeywell Flour Mill also gained 10 per cent to close at N16.50, while Beta Glass rose by 9.98 per cent to finish at N213.70 per share.
Other top gainers included NPF Microfinance Bank, which rose by 9.81 per cent to N2.35, and Neimeth Pharmaceuticals, which increased by 9.77 per cent to N3.37.
On the flip side, Multiverse Mining and Exploration led the losers, shedding 9.64 per cent to close at N8.90. Wapic Insurance declined by 4.74 per cent to N2.01, Lasaco Assurance dropped 4.53 per cent to N2.32, and May & Baker Nigeria fell by 3.82 per cent to N12.60.
Trading activity was robust, with a total of 729.88 million shares valued at N13.88 billion exchanged in 14,743 deals, representing a 37 per cent increase in volume but a 30 per cent drop in turnover compared to the previous day.
FCMB Group Plc dominated the volume chart with 273 million shares traded. Other actively traded stocks included Fidelity Bank Plc (43.5 million shares), Caverton Offshore Support Group Plc (35.1 million shares), and Aiico Insurance Plc (33.9 million shares).
Sectoral performance showed a positive trend across key indices:
- The Consumer Goods Index led with a 1.16 per cent gain.
- The Top 30 Index rose by 0.39 per cent.
- The Main Board Index appreciated by 0.49 per cent.
- The Pension Index added 0.29 per cent.
- The Banking Index edged up by 0.2 per cent.
- The Industrial Index gained 0.18 per cent.
This performance follows Wednesday’s bullish session where investors also gained N186 billion, driven by renewed interest in consumer goods, banking, and oil and gas stocks.
