The Nigerian Exchange Limited (NGX) closed higher on Tuesday despite an inflation report showing consumer prices increased at a faster pace in the month of September.

The Consumer Price Index, which measures inflation in an economy, showed the nation’s inflation rate quickened to 32.7 percent in September.

However, the NGX market capitalization appreciated thereafter by 0.33 percent or N197 billion to N59.707 trillion from N59.510 trillion recorded on Monday.

The NGX All-Share Index (ASI) also closed higher at 98,540.93 index points, a 325.80 points increase from 98,215.13 index points it closed in the previous session.

The Exchange sustained its momentum as investors jumped on Aradel, Oando and other stocks to push cumulative gain in the last three days to N3.69 trillion, according to a note by Atlas Portfolios Limited.

In its update, Atlass Portfolios Limited told investors that approximately 286.04 million units valued at ₦26,817.03 million were transacted across 9,650 deals.

Champion Breweries led the gainers as it expanded by 9.97 percent to quote at N3.42, Tantalizers added 9.09 percent to sell at 60 Kobo, Oando gained 7.93 percent to N77.60, Aradel Holdings rose by 6.09 percent to N820.00, and Eterna jumped by 4.86 percent to N25.90.

Caverton led the losers as it declined by 10.00 percent to trade at N2.34, Tripple G fell by 9.95 percent to finish at N1.81, C&I Leasing dropped by 9.80 percent to N3.59, Jaiz Bank weakened by 9.21 percent to N2.17, and Deap Capital declined by 9.09 percent to N1.20.

At the Tuesday session, investors transacted 286.1 million shares worth N26.8 billion in 9,650 deals versus the 305.0 million shares worth N19.8 billion traded in 8,083 deals in the previous day, this indicated a fall in the trading volume by 6.20 percent and a rise in the trading value and the number of deals by 36.04 percent and 19.39 percent, respectively.

Access Holdings topped the activity chart with 46.0 million equities sold for N928.5 million while Zenith Bank followed with 30.4 million shares worth N1.1 billion.

Investors transacted 25 million stocks of Aradel Holdings valued at N20.8 billion. UBA and Veritas Kapital experienced 16.9 million shares worth N412.9 million and 15.1 million equities valued at N22.7 million, respectively.

The Nigerian Exchange (NGX) Limited market value rose by 6.10% on Monday, October 14 as Aradel Holdings Plc introduced its N3 trillion market capitalisation company to Nigeria’s main stock market.

Data showed that the NGX All-Share Index (ASI) advanced by 0.62%, while the market capitalization surged by 6.10%.

Investors King reports that the performance indicators were boosted due to the listing of Aradel Holdings Plc’s 4,344,844,360 Ordinary Shares of 50 kobo each at N702.69 Per Share on the exchange.

The All-Share Index advanced by 608.50 basis points in today’s trading session, reflecting a 0.62% increase to close at 98,215.13 points.

The market breadth closed negative, recording 19 gainers and 31 losers. But the sectoral performance was positive as three of the five major market sectors rallied.

Coronation Insurance was the best-performing equity after it jumped by 10.00% to 88 Kobo, The Initiates increased by 9.74% to N2.14, Consolidated Hallmark gained 9.35% to close at N1.52, MeCure Industries went up by 8.91% to N11.00, and NASCON rose by 6.67% to N32.00.

On the flip side, Vitafoam Nigeria finished the day as the worst-performing stock after it dropped 9.09% to sell for N20.00, Tantalizers tumbled by 8.33% to 55 Kobo, Integrated Energy Insurance slumped by 6.37% to N1.47, Secure Electronic Technology shrank by 6.15% to 61 Kobo, and Guinea Insurance moderated by 6.12% to 46 Kobo.

During the session, 305.0 million equities valued at N19.7 billion exchanged hands in 8,083 deals compared with the 304.4 million equities worth N5.6 billion traded in 6,950 deals last Friday, indicating a rise in the trading volume, value and number of deals by 0.20%, 251.79% and 16.30%, respectively.

Cutix closed the day as the most active stock for selling 37.9 million units worth N95.2 million, Zenith Bank traded 34.1 million units for N1.3 billion, UBA transacted 33.9 million units valued at N897.8 million, Chams exchanged 18.8 million units worth N38.2 million, and Aradel Holdings sold 18.7 million units for N14.5 billion.

The banking sector grew by +0.36%, followed by the Insurance sector, which gained +0.29% while the Consumer goods sector inched higher by +0.24%.

The Oil & Gas and Industrial sectors declined moderately by 0.02% and 0.01%, respectively.

The market will be looking to Nigeria’s inflation figure for September due to be released on Tuesday (October 15).

The Nigerian stock market closed on a positive note on Friday, October 11, 2024, with the All-Share Index (ASI) advancing by 0.13%, adding 129.44 points to settle at 97,606.63 index points.

The market recorded a total of 6,950 deals with a market capitalization of N56.08 trillion.

Trading activity saw a notable uptick, rising by 9% as the volume of shares traded increased from 277 million shares the previous day to 304 million shares.

The good performance in the market was driven by gains in the shares of FBNHoldings, Fidelity Bank, Fidson, Sterling Bank, Nigerian Breweries, United Capital, Mecure and 24 others.

As a result, year-to-date return went up to 30.54 percent as the number of companies closed in green stood at 31 against 17 firms that closed in red.

An analysis of the investment showed that Sterling Bank and Conhall Plc led gainers table with 9.45% to close at N4.98 and N1.39 per unit respectively, Mecure followed with a gain of 9.19% to close at N10.10 per unit, Regal Insurance added 9.09% to close at N0.72 per share while Fidson health care gained 8.24% to close at N15.10 per unit.

On the contrary, Deap Capital topped losers chart, dropping by 9.93% to close at N1.36 per share, NEM Insurance trailed with a loss of 9.71% to close at N7.90 per share, Daar Communications dipped by 9.52% to close at N0.57 per unit, Tantalizer down by 9.09% to close at N0.60 per unit while Dangote Sugar went down by 3.13% to close at N31.00 per share.

The volume of trades also went up by 26.685 million; representing 9.60% as investors traded 304.430 million Shares valued at N5.599 billion in 6950 deals against 277.745 million shares valued at N4.653 billion exchanged hands the previous day in 7091 deals.

Transactions in the shares of Access Holding Company led market activities with 68.257 million shares valued at N1.339 billion, Fidelity Bank followed with account of 43.156 million shares worth N630.123 million, and United Bank for Africa traded 25.437 million shares cost N67.593 million.

Others include Zenith Bank which traded 19.733 million shares valued at N739.183 million, Sterling Bank exchanged 12.451 million shares cost N60.075 million.

Market analysts note that the All-Share Index is projected to maintain its bullish momentum, with expectations of breaking above the 99,000-point mark in the coming weeks.

However, the wider Nigerian market environment may dent the market with inflation numbers for September 2024 due next week. The number has slowed in the last months and if it falls further, it could help drive favorable price trends.