NGX Stock Market Gains N3.72tn on Increased Buying Interest

The stock market section of the Nigerian Exchange Limited (NGX) closed last week positively, with renewed buying interest across selected counters. The NGX All-Share Index (ASI) increased by 2.36% week-on-week (WoW), closing at 246,992.44 points.

Market capitalization rose by N3.72 trillion, reaching N159.559 trillion. This positive performance was largely driven by gains in key companies such as MTN Nigeria Communications (MTNN), Seplat Energy, Aradel Holdings, and Nigerian Breweries.

The market's Year-to-Date (YtD) return improved to 58.72%. Market breadth remained favorable, with 56 gainers compared to 35 losers, indicating enhanced investor sentiment.

Royal Exchange recorded the highest price gain of 25%, closing at N1.10 per share, while Champion Breweries gained 20.10%, closing at N11.95. Nigerian Breweries rose by 18.80% to close at N82.45 per share.

Conversely, Beta Glass led the losers with a decline of 17.38%, closing at N465.00 per share, followed by NASCOM Allied Industries, which fell by 15.90% to N164.00 per share.