Nigerian Exchange Limited gains N221 billion as Nestle Nigeria shares rise, boosting market capitalisation to N126.32 trillion despite mixed sector performance

The Nigerian Exchange Limited recorded a N221 billion gain yesterday, driven by strong investor demand for Nestle Nigeria Plc and 32 other listed stocks.

Also read:  NGX Issues Caution to Tantalizers, NPF Microfinance Over Insider Trading

Nestle Nigeria shares rose by N150, or 4.84 per cent, closing at N3,250 per share.

The market capitalisation of listed companies on NGX increased to N126.32 trillion, up N221 billion or 0.18 per cent from the opening figure of N126.1 trillion.

The NGX All-Share Index (ASI) closed at 196,807.15 basis points, up 343.93 points or 0.17 per cent from 196,463.22 points recorded at the previous session.

Month-to-date and year-to-date returns for the NGX ASI improved to +2.1 per cent and +26.5 per cent, respectively.

Sectoral performance was mixed.

The NGX Banking Index gained 0.5 per cent, while the NGX Consumer Goods Index rose 0.1 per cent.

Conversely, the NGX Insurance Index declined 1.6 per cent, and the NGX Oil & Gas Index slipped 0.2 per cent.

The NGX Industrial Goods Index closed flat.

Trading activity saw a 21.3 per cent decline in total volume to 634.01 million units, valued at N29.11 billion across 66,286 deals.

Jaiz Bank Plc was the most traded stock by volume at 137.3 million units, while GTCO Plc led by value, exchanging N5.41 billion.

Market breadth indicated a negative sentiment of 0.8x, with 37 stocks declining versus 31 gainers.

Also read: NGX Suspends Zichis Agro-Allied Shares After 772% Surge

Tripple G Plc and Multiverse led losses, each down 9.9 per cent, while NPF Microfinance Bank Plc and Eterna Plc posted the largest gains of 10 per cent each.