Trading on the Nigerian Exchange Limited opened the month of September on a bullish note on Wednesday, as capital appreciation in key mid-cap and blue-chip equities lifted total market capitalisation by N1.22tn.
The benchmark NGX All-Share Index appreciated by 1,883.24 basis points, or 0.77 per cent, to settle at 246,082.63, while the market capitalisation of equities expanded to close at N158.96tn from N157.74tn recorded in the previous session.
This broad-based rally pushed the year-to-date market return higher to 58.14 per cent as buying sentiment extended across multiple sectors on the local bourse.
The sustained positive momentum was primarily anchored by price appreciation in energy, consumer goods and financial heavyweights, including Aradel Holdings, Nestlé Nigeria, HBM Nigeria, May & Baker Nigeria and First HoldCo.
Market breadth closed overwhelmingly positive, with 40 advancing stocks outpacing 19 decliners. Heavyweight gains in Aradel Holdings, which surged 8.83 per cent, alongside Nestlé Nigeria’s 5.83 per cent rise, provided substantial upward leverage to offset moderate profit-taking observed in select large-cap counters.
Activity levels on the trading floor reflected mixed engagement, as total volume traded rose 7.44 per cent to 651.32 million shares, while total transaction value increased 5.35 per cent to N40.77bn. However, total executed deals contracted 18.16 per cent to settle at 43,760.
Access Holdings Plc topped the activity chart by volume, accounting for 129.89 million units valued at N4.16bn, while MTN Nigeria Communications Plc led the market in turnover value with deals worth N4.69bn.
Sectoral performance showed broad investor optimism across major industry groups. The NGX Oil & Gas Index posted the strongest performance with a 3.87 per cent surge, closely followed by the Insurance Index, which rose 3.34 per cent.
The Banking and Consumer Goods indexes both registered gains of 0.87 per cent, while the Industrial Goods sector recorded a 0.71 per cent uptick by the close of business.
Percentage price movements showed FTN Cocoa Processors Plc and McNichols Plc leading the gainers’ chart after soaring 10.00 per cent each to close at N8.25 and N4.95, respectively, followed by SUNU Assurances Nigeria Plc with a 9.94 per cent gain.
Conversely, Tripple Gee & Company Plc fell 9.72 per cent to lead the decliners, while ABC Transport Plc and Nigerian Aviation Handling Company Plc dropped 9.52 per cent and 9.22 per cent, respectively.
Capital market analysts attribute the sustained buying pressure to continued portfolio realignment by institutional and retail investors positioning for third-quarter value opportunities.