NGX extends rally as All-Share Index hits 62.18% year-to-date gain

The Nigerian stock market bounced back on Thursday, November 12, as the NGX All-Share Index closed at 252,366.80 points, up 0.20%, and added N328.26 billion to investors' wealth.

The index climbed 505.56 points from 251,861.24 points on Wednesday. Market capitalisation rose to N163.86 trillion from N163.53 trillion. The day's performance pushed the index's year-to-date return to 62.18%, with month-to-date at 0.46% and week-on-week at 1.06%.

Volume and value traded

Investors exchanged 2.91 billion shares worth N78.66 billion across 28,318 deals. That compared with 418.35 million shares valued at N22.83 billion across 30,908 deals in the previous session. Total volume traded rose by 596.70%, while transaction value climbed by 244.62%.

By volume, VFD Group was the most actively traded stock, accounting for 34.52% of shares exchanged. Access Holdings followed at 6.71%. United Bank for Africa and Champion Breweries each contributed 4.16%, while Zenith Bank accounted for 3.90%.

On the value chart, Seplat Energy led with N7.39 billion, representing 26.86% of the total value traded. MTN Nigeria came second with N7.18 billion, accounting for 26.10%. Together, the two stocks accounted for over half of the N78.66 billion total value traded. Zenith Bank, VFD Group, Guaranty Trust Holding Company, First HoldCo, Stanbic IBTC, Access Holdings, UBA and Presco also featured among the top contributors.

Gainers and losers

Fidson Healthcare recorded the highest gain, with its share price climbing 9.94% to close at N91.80 from N83.50. Sunu Assurances followed with a 9.92% gain to N2.88. Champion Breweries rose by 9.85% to N11.15. Caverton Offshore Support Group added 9.59% to reach N4.00, while FTG Insurance closed at N1.51 after a 9.42% rise. Cornerstone Insurance, FTN Cocoa, Cutix, VFD Group and Veritas Kapital also featured among the gainers.

International Breweries suffered the steepest decline, losing 7.18% to close at N8.40. Tantalizers fell by 6.67% to N3.50. Honeywell Flour Mills shed 4.85% to N31.40, while Vitafoam Nigeria declined by 4.66% to N134.90.

Market breadth and sectors

Despite the gain in the index, market breadth closed negative, with 29 stocks declining against 22 that advanced. Four of the five major sectors ended the day in the red. Banking fell by 0.60%, insurance dropped by 0.29%, consumer goods lost 0.15%, while industrial goods slipped by 0.002%. The oil and gas sector was the only segment to close in positive territory, posting a 0.03% gain.

The index's year-to-date return now stands at 62.18%, with month-to-date at 0.46% and week-on-week at 1.06%.