The Nigerian Exchange (NGX) opened the week on a positive note, posting a N263 billion gain in market capitalization as investors focused on consumer goods and insurance stocks. Key movers included PZ Cussons Nigeria and University Press Plc, which both rose by 10 percent, signaling renewed investor confidence in blue-chip stocks.
At the close of Monday’s trading, the market capitalization of listed equities increased to N88.2 trillion from N87.9 trillion in the previous session, representing a growth of N263 billion. The benchmark All-Share Index rose by 414.74 points, or 0.3 percent, to close at 139,394.75 points, reflecting moderate optimism among market participants.
Trading activity recorded a total turnover of 947.83 million shares valued at N17.96 billion across 36,006 deals. While this represented a 48 percent decline in traded volume compared to the previous session, the value of trades rose by 12 percent, and the number of deals increased by 46 percent, suggesting selective but confident trading behavior.
The market breadth closed positive, with 41 gainers against 18 losers. PZ Cussons Nigeria led the gains at N35.20 per share, followed by University Press Plc at N5.50. On the losing side, Nigerian Enamelware Plc and Industrial and Medical Gases Nigeria Plc each shed 10 percent, highlighting mixed sector performance. FCMB Group Plc emerged as the most traded stock by volume, with 460.95 million shares worth N4.73 billion, followed by Universal Insurance and Royal Exchange.
Sectoral performance showed the NGX Insurance Index leading with a 3.16 percent gain, while the NGX Consumer Goods Index rose 0.6 percent. Other indices, including the NGX Main Board and NGX Top 30, posted modest gains, whereas the Oil & Gas Index remained flat. Despite a slight weekly and four-week decline, the market maintains a strong year-to-date gain of 35.43 percent, reflecting sustained interest in select high-performing stocks.
Source: Punch