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The Nigerian Exchange Limited (NGX) commenced the trading week on a bullish trajectory, adding N279 billion to its market capitalisation on Monday as investor appetite surged across key sectors.
By the close of trading, the market capitalisation rose from N74.55 trillion recorded on Friday to N74.83 trillion. Similarly, the All-Share Index (ASI) appreciated by 441.43 points, representing a 0.37 per cent increase, to close at 118,579.65.
The positive momentum was largely driven by robust gains in large and mid-cap stocks. Notable among the top gainers were Presco Plc, Beta Glass, Champion Breweries, Neimeth International Pharmaceuticals , and FTN Cocoa Processors, each appreciating by the daily maximum of 10 per cent.
Their respective closing prices were:
Presco Plc – N1,210.00
Beta Glass – N303.60
Champion Breweries – N9.02
Neimeth Pharmaceuticals – N4.07
FTN Cocoa Processors – N3.08
Legend Intercontinental also recorded a strong rally, rising by 9.97 per cent to close at N8.71.
On the flip side, Julius Berger Nigeria Plc led the losers' chart, declining by 7.48 per cent to close at N117.50. Other top laggards included Chams Holdings Plc and Secure Electronic Technology Plc, both down by 5 per cent to close at N2.05 and N0.57, respectively.
Multiverse Mining & Exploration Plc lost 4.66 per cent to close at N9.20, Red Star Express Plc declined by 3.85 per cent to N7.50, while ABC Transport Plc dipped 3.70 per cent to settle at N2.60.
Trading activity improved markedly, with a total of 653.66 million shares exchanged, valued at N21.33 billion, across 22,206 deals. This represented a 25 per cent increase in volume, an eight per cent rise in value, and a 25 per cent jump in deal count compared to the previous session.
Fidelity Bank emerged as the most actively traded stock by volume, with 142 million shares exchanged. It was followed by:
Zenith Bank – 46.3 million shares
Nigerian Breweries – 38.1 million shares
FTN Cocoa Processors – 38 million shares
Sectoral performance was broadly positive:
The Insurance Index gained 1.9 per cent
Consumer Goods Index rose 0.73 per cent
Banking Index advanced 0.62 per cent
Oil and Gas Index added 0.43 per cent
The strong start to the week extended recent gains on the NGX. The market has now posted a one-week return of 2.88 per cent, a four-week gain of 8.17 per cent, and a year-to-date return of 15.21 per cent, underscoring improved investor sentiment despite prevailing macroeconomic challenges.
