NGX gains as equities rally across sectors

Trading on  the  Nigerian  Exchange  Limited  closed  on  a  positive note  on  Thursday,  as  the benchmark All-Share Index recorded a modest gain of 33.48 points to settle at 247,707.13 points compared to the 247,673.65 points recorded on Wednesday. The market capitalisation of listed equities similarly appreciated, closing higher at N160.83tn from N160.81tn recorded in the previous trading session.

Across the broader trading landscape, activity levels reflected robust investor engagement as total equity volume crossed hundreds of millions across major sectors, anchored by strong performances in key counters.

Sectoral performance was largely upbeat, spearheaded by significant rallies in specialised market indicators. The NGX Oil and Gas Index led the sectoral advances with a notable surge to close at

6,194.16 points, up from 6,034.68 points, driven by strong buying interest in energy and exploration equities. The NGX Lotus Islamic Index also advanced firmly to 23,164.84 points, while the NGX Growth Index scaled higher to 26,970.58 points.

Additional positive momentum was observed in the NGX Main-Board Index, which climbed to

10,820.66 points, and the NGX Banking Index, which ticked upward to settle at 2,556.46 points. Conversely, a few indices experienced downward pressure, including the NGX Premium Index,

which retreated to 30,909.21 points, and the NGX Consumer Goods Index, which closed relatively flat at 4,033.67 points.

Individual stock performances highlighted active trading across premier and main board securities. In the banking subsector, United Bank for Africa Plc recorded positive price movement, closing at N43.15 with a 0.35 per cent gain on heavy volume of over 36.3 million shares traded, while Zenith Bank Plc traded actively with over 12.3 million shares changing hands at N127.70. Access Holdings Plc saw moderate activity, closing at N28.30, whereas First Holdco Plc appreciated 0.84 per cent to close at N138.00.

Dangote Cement Plc maintained a steady market presence at N1,066.70, and Seplat Energy Plc anchored the oil and gas exploration category with robust trades at N16,000.10. Meanwhile, Aradel Holdings Plc recorded a strong 7.14 per cent appreciation to close at N1,499.90, reflecting sustained investor appetite for integrated energy services.

Source:https://punchng.com/ngx-gains-as-equities-rally-across-sectors/