NGX ends 11-day slide, investors gain N306bn

Trading on the Nigerian Exchange Ltd. (NGX) closed higher on Thursday, snapping an 11 day losing streak, as investors’ wealth rose by N306 billion.

The positive performance was driven by renewed buying interest in banking, insurance and consumer goods stocks.

The rally was also supported by FTSE Russell’s confirmation of Nigeria’s reclassification to Frontier Market status, effective Sept. 21, 2026.

Specifically, market capitalisation rose by 0.20 per cent, or N306 billion, to N154.442 trillion from N154.136 trillion recorded on Wednesday.

Similarly, the All Share Index increased by 473.17 points, or 0.20 per cent, to 239,156.09 from 238,682.92.

Consequently, the market’s Year to Date return improved to 53.69 per cent.

Despite the positive performance, market breadth closed negative, with 39 stocks recording losses against 20 gainers.

Fidson led the decliners’ chart by 9.98 per cent to close at N75.80 per share.

Learn Africa and International Energy Insurance followed, shedding 9.84 per cent each to close at N8.70 and N2.84 per share respectively.

Daar Communications declined by 8.61 per cent to N1.38, while Legend Internet fell by 8.43 per cent to N3.80 per share.

On the gainers’ chart, Omatek Ventures led with 9.60 per cent to close at N1.37 per share.

Cornerstone Insurance gained 9.18 per cent to close at N5.35, while AXA Mansard Insurance rose by 9.09 per cent to N12 per share.

Abbey Mortgage Bank appreciated by 6.25 per cent to close at N8.50, while First Holdco gained 4.65 per cent to N135 per share.

Trading activity declined, with total volume falling by 31.83 per cent to 499.96 million shares.

The transactions were executed in 40,323 deals, while the total value stood at N35.15 billion.

Zenith Bank dominated market activity, accounting for the highest volume and value traded, with 69.95 million shares worth N8.20 billion.

The bank’s transactions represented 13.99 per cent of the total market volume and 23.33 per cent of the total value traded.