The Nigerian Exchange (NGX) All-Share Index (ASI) maintained its positive trend, closing at 104,744.43 points, reflecting a 0.19% increase from the previous session. This rally added over ₦364 billion to the market, driven by:
– Renewed investor confidence
– Release of corporate financial results
Market Performance Overview
– Total deals:13,716, indicating sustained investor participation
– Total shares traded: 497.36 million
– Market value of trades: Approximately ₦11.84 billion
– Equity market capitalization: Increased to ₦64.87 trillion
– Bond market capitalization: Remained stable at ₦47.92 trillion
– Exchange-Traded Funds (ETF) market capitalization: ₦28.37 billion
Top Gainers Driving Market Growth
Several stocks recorded significant price increases, boosting overall market performance:
– Honeywell Flour Mills (HONYFLOUR) +10% to ₦9.35 (from ₦8.50)
– Chellarams Plc (CHELLARAM) +10% to ₦5.94 (from ₦5.40)
– Northern Nigeria Flour Mills (NNFM) +9.98%* to *₦55.10* (gained ₦5.00)
– Skyway Aviation Handling Company (SKYAVN) +9.89% to ₦40.00
– Red Star Express (REDSTAREX)+9.89% to ₦5.00 (from ₦4.55)
Bond and ETF Market Updates
–Bond market:
– The FGSUK2032S5 bond gained ₦4.50, closing at ₦100.00
– Other bonds (LAB2033S1, LFZ2041S1, NMR2027S3, UBN2029S3) remained unchanged at ₦100.00
– ETF market:
– NewGold ETF rose by *₦504.54, closing at ₦35,504.54
– Other ETFs (MERVALUE, VETBANK, VETINDETF, GREENWETF) remained stable
### *Investor Sentiment and Outlook*
– Positive sentiment is driven by:
– Release of corporate earnings reports
– Improved economic stability
– Growing investor confidence in key sectors
– Market Outlook:
– If bullish momentum continues, the NGX is likely to sustain its upward trend
– Investors remain cautious about global economic trends, inflation, and monetary policies
