By Bamidele Famoofo
WorldStage– The Nigerian Exchange (NGX) market capitalisation jumped by about N1.64 trillion on Tuesday amidst additional shares listed by Ellah Lakes from its debt-to-equity conversion deal. The NGX All-Share Index (ASI) increased by +1.06 percent, while the market capitalisation rose by +1.07 percent.
The mixed performance of these indicators was attributed to the additional listing of 2,252,142,858 Ordinary Shares of 50 Kobo Each Arising from the Conversion of Ellah Lakes Plc’s N6,306,000,000.00 debt-to-equity at N2.80 per share.
Consequently, the market index added 2,524.00 basis points in today’s trading session, reflecting a 1.06 percent increase to close at 240,743.19. Market cap gained ₦1,639.01 billion, representing a growth of 1.07 percent, settling at ₦154.48 trillion.
The bullish performance reflected growing investor optimism on listed companies’ earnings outlook, with buying interest in medium- and large-cap stocks. Telecommunication company Airtel Africa, with the ticker AIRTELAFRI, accounted for the bulk of the gains.
Buying interest in AIRTELAFRI, GTCO, ACCESSCORP, FIRSTHOLDCO, WAPCO, ZENITHBANK, along with 26 other gainers, helped improve overall market performance.
Total volume and the total value of all stocks traded in the market increased by +18.72 percent and +7.82 percent, respectively. Stockbrokers reported that approximately 564.91 million units, valued at ₦39,345.49 million, were transacted in 49,230 deals.
FIDELITYBK topped the volume chart, accounting for 10.54 percent of all units traded in the market, followed by ZENITHBANK (8.80%), DANGSUGAR (7.66%), CHAMS (7.02%), and ACCESSCORP with 5.45 percent.
MTNN topped the value chart, accounting for 20.42 percent of the total value traded. GUINEAINS and AIRTELAFRI were the top performers, gaining +10.00 percent each, trailed by INTENEGINS (+9.89%), TRIPPLEG (+9.82%), CORNERST (+9.76%), MCNICHOLS (+9.40%), SOVRENINS (+8.63%), and twenty-six others.
A total of twenty-two stocks depreciated. With a price depreciation of -9.96 percent, REDSTAREX topped the worst performers’ chart, followed by PREMPAINTS (-9.93%), TRANSEXPR (-9.82%), ROYALEX (-9.38%), ABBEYBDS (-9.29%), and UNIVINSURE (-6.48%).
Hence, market breadth closed on a positive note, with 33 gainers and 22 losers. Sectoral performance was positive today, with four of the five major market sectors closed in green.The Insurance sector led with +2.84 percent, followed by the Consumer goods sector (+0.18%), the Banking sector (+0.18%), and the Industrial goods sector (+0.07%). Only the Oil & Gas sector declined by -0.09%.
