The Nigerian Exchange (NGX) kicked off the week on a high note as investors gained N257 billion, driven by renewed buying interest in select stocks. Market optimism pushed the total market capitalization to N97.2 trillion, signaling confidence despite slower trading activity. The benchmark NGX All-Share Index rose by 401.69 points, or 0.26 per cent, closing at 152,459.07 points, reflecting steady upward momentum in the market.
Data from the trading floor showed that 451.48 million shares valued at N13.00 billion changed hands in 33,290 deals. While overall turnover declined by 22 per cent and trading volume dropped by 49 per cent compared with the previous day, the number of deals increased by 30 per cent, indicating sustained investor participation and selective buying across key sectors.
Market breadth was positive, with 129 equities traded, thirty-four gainers, and twenty losers. Aluminium Extrusion Industries led the gains with a 9.72 per cent rise to N13.55 per share, followed closely by International Energy Insurance (9.69%), MeCure Industries (9.64%), and Royal Exchange (9.60%). On the downside, Custodian and Allied Insurance, as well as Associated Bus Company, each fell by 10 per cent, while Prestige Assurance Company and Guinea Insurance dropped by over 7 per cent.
Tantalizers recorded the highest trading volume with 50.18 million shares exchanged, followed by First HoldCo (32.62 million), Access Holdings (27.32 million), and Custodian and Allied Insurance (22.10 million). The activity highlighted investor focus on both high-volume and strategically performing stocks, creating pockets of strong market movement despite lower overall trading.
Most sectoral indices closed in positive territory, led by the Industrial Index (+0.91%) and Consumer Goods Index (+0.50%), while the Top 30 Index gained 0.27 per cent. The Pension Index edged up slightly, and the Oil and Gas Index remained flat. Analysts note that the market’s positive close demonstrates continued selective buying in industrial, consumer, and insurance stocks, reflecting a generally upbeat sentiment in Nigeria’s equities market.
source: punch