NGX Sees N84bn Surge as Aradel, Eunisell Lead Market Rally

Equities investors on the Nigerian Exchange (NGX) enjoyed a boost on recently, with the market capitalisation rising by N84 billion, driven by strong rallies in stocks such as Aradel Holdings, Eunisell Interlinked, and Flour Mills of Nigeria Plc.

The positive momentum marked a strong start to the week after a negative finish the previous week. The NGX All-Share Index saw an increase of 0.14 percent, gaining 138.1 points to close at 97,374.25, up from 97,236.19. This uptick pushed the market’s year-to-date performance to 30.23 percent, as reported by NGX data.

However, despite the growth in market value, trading activity declined, with total volume and value traded dropping by 37.81 percent and 20.21 percent, respectively. A total of 297.83 million units, valued at ₦7,517.55 million, were transacted across 9,902 deals.

In terms of volume, SterlingNg led the pack, accounting for 12.14 percent of the total traded volume. Other significant contributors to the volume included UBA (11.26 percent), Accesscorp (8.26 percent), Flourmill (5.05 percent), and FBNH (4.88 percent).

When it came to value, UBA topped the chart, making up 13.86 percent of the total value traded. Eunisell emerged as the day’s top performer, with a remarkable price appreciation of 10.00 percent. Aradel Holdings followed closely, gaining 9.99 percent, while other gainers included JohnHolt (+9.98 percent), DEAPCAP (+9.35 percent), Custodian (+8.62 percent), Tantalizer (+7.14 percent), and Flourmill (+1.56 percent).

Despite the positive overall performance, 27 stocks saw a decrease in value. UCAP recorded the biggest loss, down 9.78 percent, followed by Prestige (-6.67 percent), ConhallPLC (-5.88 percent), SterlingNg (-4.76 percent), Ellahlakes (-2.45 percent), and Zenithbank (-0.95 percent).

Sector performance was mixed. The insurance (+0.23 percent) and oil and gas (+0.16 percent) indices closed in the positive, bolstered by investor interest in stocks like Mansard (+5.93 percent) and Aradel (+9.99 percent). Conversely, sell-offs in Accesscorp (-2.64 percent), Dangsugar (-2.60 percent), and WAPCO (-0.52 percent) negatively impacted the banking (-0.81 percent), consumer goods (-0.10 percent), and industrial goods (-0.03 percent) indices.

In summary, the NGX saw a significant gain of N84 billion, thanks to strong performances from select stocks like Aradel and Eunisell. While trading activity showed a decline in volume and value, the overall market sentiment remained positive, with certain sectors and stocks leading the charge.