NGX gains N400bn as investor appetite lifts index

The Nigerian Exchange Limited opened the week on a bullish note as renewed investor confidence drove a market capitalisation gain of N400bn. The benchmark All-Share Index increased by 713.58 points, representing a 0.53 per cent rise to close at 135,166.51.

This positive performance pushed the total market capitalisation to N85.5tn at the close of trading on Monday, reflecting strong buying interest across key sectors and sustained momentum from previous weeks.

On a broader level, the All-Share Index has now advanced by 2.53 per cent over the past week, 12.64 per cent in four weeks, and 31.32 per cent since the beginning of the year.

A total of 127 listed equities participated in trading during the session, resulting in 45 gainers and 26 losers. The market saw an uptick in investor activity, with 795,593,090 shares exchanged in 37,626 deals, amounting to a total market value of N23.23bn. This represented an 11 per cent increase in trading volume and a 51 per cent rise in the number of deals, although the total turnover declined by four per cent when compared with the previous session.

Academy Press led the gainers’ chart after appreciating by 9.99 per cent to close at N10.24 per share.

It was followed by Champion Breweries, which rose by 9.98 per cent to N13.55; Tripple Gee and Company, which increased by 9.97 per cent to N3.86; and May and Baker Nigeria, which advanced by 9.94 per cent to close at N18.80. Other top gainers included UACN, which gained 9.92 per cent and UPDC Real Estate Investment Trust, which added 9.88 per cent to close at N9.45.On the flip side, Livestock Feeds led the losers with a 10 per cent decline to close at N8.10. The Initiates Plc followed closely with a 9.98 per cent drop to N14.52. Ellah Lakes shed 9.08 per cent to close at N8.91, while Nigerian Exchange Group lost 6.02 per cent to close at N75.00. Other notable laggards were Thomas Wyatt Nigeria and Africa Prudential, which declined by 5.54 per cent and 4.94 per cent, respectively.

In terms of volume, Fidelity Bank recorded the highest number of traded shares with 123 million units valued at N2.58bn. FCMB followed with 68.4 million shares, while Japaul Gold and Ventures exchanged 44.1 million shares. Zenith Bank and Access Corporation also featured prominently on the volume chart with 31 million and 29 million shares traded, respectively.

For value, Fidelity Bank led the pack with N2.58bn worth of shares traded, followed by Zenith Bank with N2.25bn, MTN Nigeria with N1.66bn, Okomu Oil with N1.60bn, and Dangote Cement, which recorded trades worth N1.48bn.

Sector performance reflected the broader market strength, as most indices closed in the green. The Consumer Goods Index rose by 1.29 per cent, bringing its year-to-date gain to 69.49 per cent. The Insurance Index advanced by 2.54 per cent and is up 28.23 per cent year-to-date. The Industrial Index climbed by 0.64 per cent, while the Premium and Main Board Indices added 0.58 per cent and 0.5 per cent respectively. The Top 30 Index also gained 0.44 per cent.The market’s strong start to the week suggests growing investor optimism, particularly in sectors like banking, consumer goods, and industrials, as players continue to respond to corporate earnings announcements, macroeconomic developments, and positioning for the second half of the year.

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