NGX Rally Adds N2.1trn as BUA, Dangote Cement, Zenith Drive Market Surge

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By BizWatch Nigeria

Key Points

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• Market capitalisation rises by N2.1 trillion
• All-Share Index climbs 1.48% to 222,837.68
• BUA Foods, Dangote Cement, Zenith Bank lead gains
• Market breadth closes negative despite rally

Main Story

The Nigerian Exchange (NGX) recorded a strong bullish session, with investors gaining approximately N2.1 trillion in market value, driven by renewed buying interest in bellwether stocks including BUA Foods, Dangote Cement, and Zenith Bank.

The All-Share Index (ASI) advanced by 3,251.48 basis points, representing a 1.48% increase to close at 222,837.68. Correspondingly, total market capitalisation rose by ₦2.093 trillion to settle at ₦143.48 trillion.

The rally was primarily supported by price appreciation in:

• BUA Foods (+7.93%)
• Dangote Cement (+2.35%)
• Zenith Bank (+3.47%)

These gains outweighed mild declines recorded in MTN Nigeria (-0.13%) and Fidelity Bank (-1.35%).

Trading activity showed mixed signals, as total volume declined by 2.30%, while the total value of transactions increased by 5.41%, indicating a tilt toward high-value trades.

A total of 667.94 million shares valued at ₦38.12 billion were exchanged in 53,062 deals during the session.

ACCESS Holdings led the volume chart, accounting for 5.93% of total traded units, followed by United Bank for Africa (UBA), Zenith Bank, Fidelity Bank, and Guaranty Trust Holding Company (GTCO).

MTN Nigeria emerged as the most traded stock by value, contributing 14% of total transaction value on the exchange.

On the gainers’ chart, Unilever Nigeria and UACN recorded the maximum daily gain of 10%, alongside strong performances from Transcorp Express, Tantalizer, Dangote Sugar, Union Dicon Salt, and Nascon Allied Industries.

However, market breadth closed negative, with 31 gainers against 33 losers. MCNichols led the laggards with a 9.93% decline, followed by Multiverse Mining, Wapic Insurance, Abbey Mortgage Bank, and Japaul Gold.

Sectoral performance was broadly mixed:

• Consumer Goods Index rose by 4.67%
• Banking Index gained 1.53%
• Industrial Goods Index advanced 1.03%

Conversely:

• Oil & Gas Index declined by 0.06%
• Insurance Index dropped by 0.91%

The Commodity Index remained flat.

What’s Being Said

Market participants attribute the rally to renewed institutional interest in fundamentally strong stocks, particularly in the consumer goods and industrial sectors.

“The surge reflects selective accumulation in large-cap stocks with strong earnings outlooks, even as overall market breadth remains weak,” a stockbroker said.

What’s Next

Analysts expect cautious optimism to persist, with investors likely to continue rotating into fundamentally sound equities amid macroeconomic uncertainty and evolving monetary conditions.