Table of Contents
- Nigerian Exchange Limited's Comeback
- Details of the Uptrend
- Strong Performers
- Market Sentiment
- Lagging Stocks
- Trading Activity
- Background Context
The Nigerian Exchange Limited (NGX) made a remarkable return on Wednesday, achieving a substantial N2.59 trillion gain in a single day.
This uptrend marks the first significant recovery since U.S. President Donald Trump’s military threat led to a wave of panic selling in the Nigerian stock market.
Market capitalization increased by 2.88 percent, climbing from N89.88 trillion to N92.48 trillion, while the All-Share Index rose by the same percentage to finish at 145,403.83 points, compared to 141,327.30 on Tuesday.
The rebound was driven by strong performances from blue-chip stocks, including Guaranty Trust Holding Company (GTCO), Nigerian Breweries, Ecobank Transnational, Access Corporation, and AXA Mansard, all of which saw a 10 percent increase each. They closed at N85.80, N66, N34.65, N22, and N13.31 per share, respectively.
The positive sentiment pushed the Year-To-Date (YTD) return to 41.27 percent, with 65 gainers outpacing 11 losers, indicating renewed investor confidence following a week of significant losses.
On the downside, Transpower, Vitafoam, and Austinlaz led the decliners, each falling by 10 percent to close at N307.80, N84.60, and N2.61 per share. Additionally, Red Star Express and Abbey Mortgage Bank dropped by 9.80 percent and 9.72 percent, respectively.
Trading activity soared, with 806.4 million shares worth N50.78 billion exchanged in 24,509 transactions, reflecting a 73 percent increase in turnover and a 23 percent rise in volume, despite a slight decline in the number of deals.
GTCO led the activity chart with 105 million shares traded, while Aradel Holdings recorded the highest transaction value at N12.91 billion.
According to DAILY POST, this rebound follows a turbulent week in which Nigerian equities lost over N2.8 trillion after Trump designated Nigeria as a “Country of Particular Concern”, triggering widespread sell-offs and market anxiety.
Frequently Asked Questions
What caused the Nigerian Exchange Limited's recent rebound?
The rebound was primarily fueled by strong performances from blue-chip stocks and renewed investor confidence following a week of significant losses triggered by external market pressures.
How much did the market capitalization increase?
The market capitalization surged by 2.88 percent, rising from N89.88 trillion to N92.48 trillion.
Which stocks performed the best during this rebound?
The best performers included Guaranty Trust Holding Company (GTCO), Nigerian Breweries, Ecobank Transnational, Access Corporation, and AXA Mansard, all appreciating by 10 percent.
