MTN Nigeria Leads Trade Value as NGX Holds N128.9tn Market Cap

Nigeria’s equities market recorded a marginal gain on Thursday, with Nigerian Exchange Limited (NGX) closing slightly higher as trading activity remained relatively subdued.

The All-Share Index rose by 32 points to settle at 200,957.9, representing a 0.02% increase from the previous session. Despite the uptick, total market capitalization held steady at N128.9 trillion, with investors executing over 42,000 deals.

The modest gain reflects cautious optimism in the market, even as trading volume reached 678 million shares.

MTN Nigeria Dominates Market Activity

MTN Nigeria emerged as the most traded stock by value, recording transactions worth N11.06 billion.

It was followed by Access Holdings at N3.4 billion, while Wema Bank, Aradel Holdings, and Zenith Bank also featured prominently.

In terms of volume, Access Holdings led with 134.5 million shares, ahead of Wema Bank and Veritas Kapital, signalling sustained investor interest in banking stocks.

Market sentiment remained broadly positive, pushing the year-to-date return to 29.14%.

On the gainers’ table, Zichis Agro-Allied and Premier Paints led with 10% increases, followed by Legend Internet and John Holt.

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However, losses were recorded by University Press Plc and Sunu Assurances, which declined by 9.17% and 8.88% respectively, highlighting pockets of profit-taking.

Mixed Performance Across Key Stocks

Among large-cap stocks, performance was largely mixed. Nigerian Breweries posted gains, while MTN Nigeria saw a slight uptick.

On the downside, Lafarge Africa declined, reflecting selective selling pressure among heavyweight stocks.

Within the banking sector, Zenith Bank and GTCO recorded gains, while UBA and Access Holdings slipped slightly.

The index appears to have stabilized above the 200,000 mark, with analysts pointing to a possible move toward 201,000 in the near term.

While the day’s gains were modest, sustained buying interest could push the market toward the 202,000 level if bullish sentiment persists.

For now, the market remains in a cautious uptrend, balancing investor optimism with signs of selective profit-taking.