NGX Gains N370bn as Insurance Stocks Soar
A late resurgence in financial services equities provided sufficient thrust to elevate the Nigerian Exchange Limited’s benchmark indicators on Thursday, with the All-Share Index advancing 576.27 points to conclude at 203,161.81 points. The 0.28 per cent expansion translated into N370bn of fresh capitalisation, pushing aggregate market value to N130.774tn.
The session’s trajectory defied underlying fragility in participation metrics, as total traded volume contracted by more than a third to 652.863 million units—a 35.17 per cent decline from prior levels. Value transacted settled at N39.820bn across 51,101 transactions, suggesting institutional concentration in select counters rather than broad-based retail enthusiasm.
Sectoral leadership emerged from medium and large-capitalisation entities, with Nestle Nigeria, Aradel Holdings, Nigerian Exchange Group, Zenith Bank, and Lafarge Africa furnishing the primary upward momentum. The banking cluster, specifically, commanded the activity ledger through Access Holdings’ exchange of 121.702 million shares worth N3.165bn, followed by Guaranty Trust Holding Company’s turnover of 62.274 million units valued at N8.096bn. Chams Holding Company, Zenith Bank, and United Bank for Africa completed the roster of volume drivers.
Market breadth presented an equilibrium of 30 advancing securities against an equivalent number of decliners, indicating selective positioning rather than categorical risk appetite. Trans-Nationwide Express dominated the price performance table with a 9.94 per cent ascent to N3.43, marginally outpacing International Energy Insurance’s 9.84 per cent improvement to N3.46. The insurance segment demonstrated collective strength, as Guinea Insurance (9.52 per cent), Regency Alliance Insurance (9.18 per cent), and Wapic Insurance (9.09 per cent) populated the upper reaches of the gainers’ register.
Negative price action concentrated in LivingTrust Mortgage Bank, which surrendered 10 per cent to close at N4.32. R.T. Briscoe relinquished 9.94 per cent, while Tantalizers retreated 9.55 per cent. Livestock Feeds and VFD Group recorded respective depreciations of 9.40 per cent and 8.85 per cent.
Looking ahead, Cowry Assets Management Limited anticipates tempered sentiment heading into Friday’s session, with profit-harvesting behaviour among portfolio managers expected to introduce resistance following the week’s accumulated gains.