July 3 (THEWILL) — The Nigerian Exchange (NGX) rebounded strongly on Friday, reversing the previous session’s losses as renewed buying interest across key counters lifted market performance and added ₦3.16 trillion to investors’ wealth.
Market capitalisation advanced by 2.19 percent to ₦147.102 trillion, from ₦143.946 trillion recorded on Thursday, while the benchmark All-Share Index (ASI) gained 4,918.37 points, or 2.19 percent, to close at 229,240.34, compared with 224,321.97 in the previous session.
Investor sentiment turned decisively positive, with market breadth closing at 39 gainers against 14 decliners, reflecting widespread bargain hunting and renewed confidence across the equities market.
Pricing Session
Top five gainers
* DAARCOMM soared 10.00 percent, (climbing from ₦1.50 to ₦1.65).
* OMATEK also advanced 10.00 percent, (appreciating from ₦1.60 to ₦1.76).
* UNIVINSURE gained 10.00 percent, (rising from ₦0.80 to ₦0.88).
* TIP surged 10.00 percent, (moving up from ₦23.50 to ₦25.85).
* AIRTELAFRI rallied 10.00 percent, (increasing from ₦4,794.60 to ₦5,274.00).
Top five decliners
* INTENEGINS led the losers’ chart, declining 9.96 percent (from ₦5.22 to ₦4.70).
* MEYER shed 9.95 percent, (falling from ₦20.60 to ₦18.55).
* FTGINSURE lost 9.80 percent, (dropping from ₦3.57 to ₦3.22).
* SOVRENINS eased 5.34 percent, (retreating from ₦2.06 to ₦1.95).
* VERITASKAP slipped 5.07 percent, (declining from ₦1.38 to ₦1.31).
Meanwhile, Julius Berger Nigeria Plc, Nigerian Breweries Plc, Seplat Energy Plc, BUA Foods Plc, Cadbury Nigeria Plc, Unity Bank Plc, among others, closed flat for the session.
The strong market breadth and recovery in the benchmark index suggest bargain hunting returned to the market, with investors taking positions in beaten-down stocks following recent weeks of sustained profit-taking.
Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.
