Investors on the Nigerian Exchange Limited saw an impressive N217 billion boost to their wealth on Thursday, following a positive trading session.
The All-Share Index on the NGX climbed by 0.37%, reaching a new level of 96,924.86 points.
This uptick also elevated the market capitalisation by the same margin, bringing it to N58.73 trillion and pushing the year-to-date return to a strong 29.62%.
Most sectors displayed robust performances, with the insurance index seeing the largest sectoral gain, climbing by 1.84%.
The oil and gas index also experienced a notable increase of 1.77%, while industrial goods and consumer goods sectors rose by 0.02% and 0.01%, respectively. The banking sector, however, posted a decline of 0.38%.
A total of 33 stocks advanced on the day, with Conoil and Aradel topping the gainers’ list, each rising by 10.00%. Eunisell followed closely with a 9.92% gain, while JohnHolt added 9.77% and Thomas Wyatt, a paper company, saw an increase of 9.71%.
Meanwhile, Tantalizer, NGX Group, and Wema Bank – recently recognized as Nigeria’s ‘No. 1 Best Workplace’ at the Great Place To Work 2024 Awards in Lagos – were among the stocks that declined. Others on the decliners’ list included RT Briscoe and FCMB Group.
Trading activity was brisk, with deal count up by 7.53%, while traded volume surged by an impressive 744.54% and value by 16.48%. A combined 744.54 million shares changed hands in 9,700 transactions, generating a total turnover of N16.48 billion.
Consolidated Hallmark Plc led in volume, with 124.8 million shares worth N245.79 million traded across 72 deals. Japaul Gold followed, trading 105.93 million shares valued at N224.09 million, and EllahLakes moved 92 million shares worth N327.64 million.
FBN Holdings, which launched its N150 billion rights issue just a day earlier, also appeared among the top-volume stocks. It saw 70.59 million shares, valued at N1.927 billion, traded during the day’s session.
