NGX rebounds as investors gain N505bn

• Published On: 20 February 2025 at 20:10

On Wednesday, the Nigerian Exchange rebounded from the previous day's loss, with the All-Share Index rising 0.87% to 108,609.51 points.

This surge injected N505 billion into the market, bringing the total capitalisation to N67.8 trillion.

BUA Foods, RT Briscoe, and Eterna all saw gains, fueling the market rally. BUA Foods led with a 9.91% increase to N410.50 per share, followed by RT Briscoe, which jumped 6.91% to N2.63. Eterna rose 6.25% to N42.50, while Sunu Assurances Nigeria jumped 6.13% to N6.92 per share.

Despite the market's rebound, some stocks fell. University Press and International Energy Insurance were the biggest losers, falling 9.8% each to close at N4.60 and N2.21 per share. Union Dicon Salt fell 9.52% to N6.65, while McNichols slipped 8.57% to N1.60 per share.

Trading activity slowed from the previous session, with 343.7 million shares worth N8.63 billion traded in 12,970 transactions.

This resulted in a 16% decrease in volume, a 23% decrease in turnover, and an 8% reduction in transactions.

Access Holdings led trading volume with 65.1 million shares, followed by Fidelity Bank with 50.7 million. Zenith Bank traded 22.1 million shares, while Sterling Bank exchanged 13.2 million shares.

Sectoral performance was mixed. The NGX Consumer Goods Index surged 4.16%, followed by the NGX Main Board Index (+1.47%) and the NGX Insurance Index (+0.29%). Meanwhile, the NGX Oil and Gas Index remained negative, down 3.82% this week and 4.58% year to date.