Market Soars as Bulls Dominate: NGX Up 2.01%, Traded Volume Jumps Over 500%
Dear Investor,
The Nigerian equities market continued its upward momentum today, with the NGX All-Share Index (NGXASI) rising by 2.01%. The benchmark index closed at 124,446.80 points, up from the previous day’s close of 121,989.67. This strong rally pushed the year-to-date (YTD) return to 20.61%, marking another positive session for the bourse.
Trading activity was particularly impressive. The total volume of shares traded jumped by a staggering 544.74%, moving from 189 million shares to 1.22 billion shares. Even more striking was the market turnover, which surged by 1,565.27%, increasing from ₦1.59 billion to ₦26.43 billion in 25,774 deals across the board.
Market Breadth: Bulls Far Outpace Bears
The market breadth stood at a healthy 5.85x, as 76 stocks recorded gains, clearly outshining the 13 stocks that declined. Volume was on the rise for 88 companies, while 55 experienced a drop in their traded volumes.
Top Performing Stocks Over the Last 5 Days
Among the biggest winners over the past five trading sessions:
• Omatek Ventures Plc (OMATEK) led the charge with a 33% gain, closing at ₦1.21. The stock also delivered a massive 66.25% return so far this month and quarter.
• C&I Leasing Plc (CILEASING) also impressed, gaining 33% over five days and nearly 93% year-to-date.
• FTN Cocoa Processors Plc (FTNCOCOA) rallied with a 32.94% increase this week alone, bringing its YTD performance to 262.77% — one of the most outstanding on the market.
• Red Star Express Plc (REDSTAREX) posted a five-day gain of 32.83%, while Academy Press Plc (ACADEMY) followed closely with 32.74%.
• Others such as ABC Transport Plc (ABCTRANS), Meyer Plc, Thomas Wyatt Plc (THOMASWY), Japaul Gold & Ventures Plc, and McNichols Consolidated Plc all recorded weekly gains between 30% and 33%.
Biggest Losers Over the Last 5 Days
On the flip side, some stocks fell under selling pressure:
• Vetiva Sovereign Bond ETF (VSPBONDETF) saw the sharpest decline, falling 26.80%, though it showed a small rebound today.
• Legend Internet Plc (LEGENDINT) dropped by 14.06%, with a single-day loss of 9.88%, closing at ₦8.00.
• eTranzact Plc slid 13.43% this week, though it posted a slight gain of 1.16% today.
• Greenwich Asset ETF (GREENWETF) recorded a loss of 9.09% today and a quarter-to-date drop of 27.59%, with its YTD return down by 62.55%.
• Other notable losers included Cornerstone Insurance, VFD Group, Stanbic ETF 30, Guinea Insurance, Eterna Plc, and Northern Nigeria Flour Mills Plc (NNFM).
Top Daily Gainers
For the day’s session, FTN Cocoa Processors Plc topped the gainers’ list with a full 10% increase, closing at ₦6.82. It was followed by:
• Haldane McCall Plc (HMCALL), which gained 10% to finish at ₦4.73.
• Caverton Offshore Support Group Plc (CAVERTON), Consolidated Hallmark Insurance Plc (CONHALLPLC), and United Bank for Africa Plc (UBA) also rose by 10% each, highlighting widespread buying interest.
⚠️ Top Daily Losers
On the losing side, Neimeth International Pharmaceuticals Plc (NEIMETH) fell by 9.91% to close at ₦9.00, while Legend Internet Plc dropped by 9.88%, closing at ₦7.21.
Other significant decliners included Greenwich ETF, International Medical Group (IMG), and Cadbury Nigeria Plc, with losses ranging from 6% to 9%.
Final Takeaway:
With the NGXASI now up over 20% YTD, today’s strong volume and broad-based rally signal renewed investor confidence. However, sharp gains should also encourage investors to monitor their positions closely, especially with such high volatility across multiple sectors.
Dear Investor,
The Nigerian equities market continued its upward momentum today, with the NGX All-Share Index (NGXASI) rising by 2.01%. The benchmark index closed at 124,446.80 points, up from the previous day’s close of 121,989.67. This strong rally pushed the year-to-date (YTD) return to 20.61%, marking another positive session for the bourse.
Trading activity was particularly impressive. The total volume of shares traded jumped by a staggering 544.74%, moving from 189 million shares to 1.22 billion shares. Even more striking was the market turnover, which surged by 1,565.27%, increasing from ₦1.59 billion to ₦26.43 billion in 25,774 deals across the board.
Market Breadth: Bulls Far Outpace Bears
The market breadth stood at a healthy 5.85x, as 76 stocks recorded gains, clearly outshining the 13 stocks that declined. Volume was on the rise for 88 companies, while 55 experienced a drop in their traded volumes.
Top Performing Stocks Over the Last 5 Days
Among the biggest winners over the past five trading sessions:
• Omatek Ventures Plc (OMATEK) led the charge with a 33% gain, closing at ₦1.21. The stock also delivered a massive 66.25% return so far this month and quarter.
• C&I Leasing Plc (CILEASING) also impressed, gaining 33% over five days and nearly 93% year-to-date.
• FTN Cocoa Processors Plc (FTNCOCOA) rallied with a 32.94% increase this week alone, bringing its YTD performance to 262.77% — one of the most outstanding on the market.
• Red Star Express Plc (REDSTAREX) posted a five-day gain of 32.83%, while Academy Press Plc (ACADEMY) followed closely with 32.74%.
• Others such as ABC Transport Plc (ABCTRANS), Meyer Plc, Thomas Wyatt Plc (THOMASWY), Japaul Gold & Ventures Plc, and McNichols Consolidated Plc all recorded weekly gains between 30% and 33%.
Biggest Losers Over the Last 5 Days
On the flip side, some stocks fell under selling pressure:
• Vetiva Sovereign Bond ETF (VSPBONDETF) saw the sharpest decline, falling 26.80%, though it showed a small rebound today.
• Legend Internet Plc (LEGENDINT) dropped by 14.06%, with a single-day loss of 9.88%, closing at ₦8.00.
• eTranzact Plc slid 13.43% this week, though it posted a slight gain of 1.16% today.
• Greenwich Asset ETF (GREENWETF) recorded a loss of 9.09% today and a quarter-to-date drop of 27.59%, with its YTD return down by 62.55%.
• Other notable losers included Cornerstone Insurance, VFD Group, Stanbic ETF 30, Guinea Insurance, Eterna Plc, and Northern Nigeria Flour Mills Plc (NNFM).
Top Daily Gainers
For the day’s session, FTN Cocoa Processors Plc topped the gainers’ list with a full 10% increase, closing at ₦6.82. It was followed by:
• Haldane McCall Plc (HMCALL), which gained 10% to finish at ₦4.73.
• Caverton Offshore Support Group Plc (CAVERTON), Consolidated Hallmark Insurance Plc (CONHALLPLC), and United Bank for Africa Plc (UBA) also rose by 10% each, highlighting widespread buying interest.
⚠️ Top Daily Losers
On the losing side, Neimeth International Pharmaceuticals Plc (NEIMETH) fell by 9.91% to close at ₦9.00, while Legend Internet Plc dropped by 9.88%, closing at ₦7.21.
Other significant decliners included Greenwich ETF, International Medical Group (IMG), and Cadbury Nigeria Plc, with losses ranging from 6% to 9%.
Final Takeaway:
With the NGXASI now up over 20% YTD, today’s strong volume and broad-based rally signal renewed investor confidence. However, sharp gains should also encourage investors to monitor their positions closely, especially with such high volatility across multiple sectors.