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 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.

The Nigerian Exchange Limited (NGX) declined by N5.7 billion on Thursday as a key performance indicator shed by 0.01%.

The All-Share Index (ASI) reduced by 9.95 basis points to close at 97,477.19 points from 97,487.14 points and the market capitalisation closed at N56.014 trillion compared with midweek’s N56.020 trillion.

Total volume and total value traded fell by 22.01% and 33.07% respectively.

Investors traded approximately 277.75 million units valued at N4.6 bullion were transacted across 7,091 deals.

Fidelity Bank was the most traded stock in terms of volume, accounting for 15.62% of the total volume of traded on the Nigerian Exchange. Other volume drivers include UBA (11.06%), Zenith Bank (9.21%), Lasaco (7.97%), and Access Corporation (6.65%) to complete the top 5 on the volume chart.

Zenith Bank emerged as the most traded stock in value terms, accounting for 20.59% of the total value of traded on the exchange.

Given the market direction, the market breadth closed par, recording 22 gainers and 22 losers.

Regency Alliance topped the advancers’ chart with a price appreciation of 10.00 percent, trailed by Caverton which gained +9.73%. Other gainers include Royal Exchange (+8.70%), ABC Transport (+8.20%), UPL (+7.14%), Guinness (+6.21%) and 16 others.

Daar Communication was the top loser, with a price depreciation of -10.00%. Other decliners include Livestock Feeds declining by 9.88%to N3.10. Sunu Assurances lost 9.7% to trade at N1.58, Fidson depreciated by 9.71% to N13.95, and Consolidated Hallmark Insurance crashed by 9.29% to N1.27 among 16 others.

The market sector performance was negative, as three of the five major market sectors were down, led by the banking sector, which dropped by 0.22%.

Also, the oil & gas sector dipped by -0.13% while the consumer goods sector fell by 0.05% and the industrial and insurance sectors closed flat.

The loss witnessed across these sectors can be tied to profit-taking by investors as the wider Nigerian macroeconomic environment became tougher due to inflationary pressures triggered by another hike in the price of petrol in the country, which will translate to denying investors’ pockets.