NGX gains marginally as Aradel Holdings rises 7.1%

The Nigerian equities market closed marginally higher on Thursday as gains in Aradel Holdings Plc and other stocks lifted the benchmark All-Share Index by one basis point to 247,707.13 points.

The marginal advance left the market’s year-to-date return at 59.2 per cent, while the month-to-date return remained negative at 1.4 per cent, reflecting the market’s recent weakness.

Market breadth remained positive, with 26 stocks appreciating against 24 decliners, translating to a breadth ratio of 1.1 times and indicating a slight advantage for buyers.

Aradel Holdings led the major stocks, gaining 7.1 per cent, followed by International Breweries Plc, which rose 4.7 per cent. Ecobank Transnational Incorporated gained 1.3 per cent, while First HoldCo Plc advanced 0.8 per cent.

Multitrex Integrated Foods Plc and Zichis Agro Allied Industries Plc topped the gainers’ chart, each rising 10 per cent. On the losing side, Enamelware Industry Plc fell 10 per cent, while NASCON Allied Industries Plc declined 9.5 per cent to record the steepest losses of the session.

Sectoral performance was largely positive, led by the oil and gas index, which advanced 2.6 per cent. The banking index gained 0.2 per cent, while the consumer goods index rose 0.1 per cent. The insurance index declined 0.2 per cent, while the industrial goods index closed unchanged.

Trading activity weakened, with total volume declining by 8.9 per cent to 286.76 million shares traded in 30,247 deals. The transactions were valued at ₦15.31 billion.

United Bank for Africa Plc was the most actively traded stock by volume, with 36.37 million shares changing hands, while Guaranty Trust Holding Company Plc led by value, recording transactions worth ₦2.44 billion.