Tantalizer, Conoil lead NGX rally as investors pocket N152bn

Onome Amuge

The Nigerian equities market maintained its bullish run on Thursday, December 12, 2024, as investors pocketed N152 billion profit, thanks to a surge in the share prices of several blue-chip stocks on the Nigerian Exchange Group (NGX).

This is as Tantalizers, Conoil, and Custodian experienced notable gains in their share prices, fueling investor confidence and maintaining the market’s positive momentum.

Thursday’s trading saw a rise in equity capitalisation to N59.867 trillion, up from N59.715 trillion recorded on Wednesday.

The market’s benchmark, the All-Share Index (ASI), also rose to 98,760.59, marking a steady increase from the 98,509.68 level recorded the previous day.

The market breadth remained positive, with 27 stocks advancing and 23 stocks declining, while 68 stocks remained unchanged.

Tantalizers, Conoil, and Custodian dominated the list of top gainers for the day.  Tantalizers closed at N1.76 per share, marking a 10 percent increase from its previous price of N1.60. Conoil, likewise, enjoyed a 10 percent surge, with its share price closing at N387.20, up from N352.00 per share. CUSTODIAN saw a similar trend, with its share price climbing to N13.85, a 9.92 percent increase from the previous N12.60 per share.

DAARCOMM, CAVERTON, and OMATEK led the pack of top decliners, with DAARCOMM closing at N0.54 per share, an 8.47 percent drop from the previous N0.59 per share. Similarly, CAVERTON’s share price declined to N1.80, a drop of 8.16 percent from the previous N1.96 per share. OMATEK also experienced a decline, with its share price falling to N0.67 per share. 

 The volume index for the day saw First City Monument Bank (FCMB) leading the pack, with 698 million shares traded in 148 deals. ETRANZACT followed closely with 473 million shares traded in 27 deals. HMCALL also saw significant volume, with 234 million shares traded in 47 deals.

The value index was dominated by Aradel Securities, which emerged as the most traded stock by value, with N752 million worth of shares changing hands in 341 deals. First City Monument Bank (FCMB) followed closely behind, with N698 million worth of shares traded in 148 deals. WAPCO also featured prominently on the value index, with shares worth N558 million changing hands in 216 deals.