NGX Gains ₦171bn as ASI Rises 0.19% on Cornerstone, PZ, Eterna Rally

The Nigerian Exchange (NGX) sustained its positive momentum on Thursday as renewed demand in insurance, consumer goods, and energy stocks lifted the market.

The All-Share Index (ASI) advanced by 0.19% to 142,979.46 points, while market capitalization added ₦171.0 billion, closing at ₦90.75 trillion.

Market Activity Strengthened by Cornerstone-led Volume

The session saw 6.23 billion shares worth ₦54.45 billion traded in 32,682 deals, a sharp rise in turnover value compared to the previous session.

Activity was significantly boosted by Cornerstone Insurance Plc, which accounted for over 5.44 billion units, representing nearly 87% of total volume and driving liquidity concentration in the insurance sector.

Other actively traded equities included UBA (₦6.54 billion), Wema Bank (₦2.51 billion), First HoldCo (₦3.49 billion), and Zenith Bank (₦3.26 billion). This distribution suggests institutional repositioning in the banking sector, despite moderate price weakness in some counters.

Gainers’ Table Led by PZ, Eterna, and Champion

Investor sentiment leaned positive with PZ Cussons (+10.00%), Eterna Plc (+9.94%), and Champion Breweries (+9.82%) posting double-digit growth.

The strong rebound in Eterna reflects sustained energy sector interest, while PZ’s rise underscores renewed foreign investor appetite for consumer goods stocks.

Bond-linked securities also featured, with FGSUK2031S4 (+21.16%) topping the chart as fixed income-linked instruments gained traction on speculative demand.

Bearish Pressure Persists in Select Equities

Despite the broad market gain, the losers’ table highlighted profit-taking in mid-tier stocks. RT Briscoe (-9.89%) and Thomas Wyatt (-9.82%) suffered steep sell-offs, reflecting volatility in speculative counters.

Sovereign Insurance (-9.33%) and Berger Paints (-7.18%) further dragged sector performance, highlighting investor rotation away from penny and industrial goods stocks.

ETFs and Bonds Post Strong Performance

The ETF market mirrored positive sentiment with significant advances:

• NewGold ETF surged by ₦6,799.96 to ₦58,000, reflecting safe-haven flows into gold-backed instruments.

• Stanbic ETF 30 gained ₦45.00 to ₦495.00, reinforcing institutional appetite for blue-chip exposure.

• GreenWETF climbed ₦21.11 to ₦232.21, sustaining its momentum in ESG-focused instruments.

In the bond market, FGS202654 advanced by ₦4.99 to ₦70.00, while other sovereign issues traded flat, signaling cautious fixed-income trading amid equity outperformance.

Market Outlook

The combination of strong insurance-led liquidity and broad-based gains in consumer goods and oil & gas counters indicates that investors are cautiously bullish, particularly in dividend-paying and value stocks.

However, the divergence seen in industrial goods and select penny stocks signals a two-tier market, where speculative equities are under pressure while fundamentally strong stocks are attracting capital rotation.

With ASI closing at 142,979.46, near its all-time high levels, short-term sentiment remains constructive. Sustained momentum in high-volume stocks such as Cornerstone, UBA, and Zenith Bank could determine whether the index consolidates above the 143,000-point psychological threshold in the coming sessions.