The Nigerian Exchange Limited saw a positive close on Monday, adding N83 billion to investor wealth.
This marked the market’s third consecutive day in the green, following a period characterized by sell-offs and rebalancing of portfolios.
Despite these gains, the NGX All-Share Index had recorded a weekly dip of 0.20 percent and a 0.38 percent decline over the past four weeks.
However, overall performance has remained strong, with a 30.04 percent year-to-date increase.
At the end of Monday’s trading session, the All-Share Index rose by 0.14 percent, reaching 97,373.94 points.
Similarly, market capitalization increased by the same margin, closing at N59 trillion, which pushed the year-to-date return slightly higher to 30.23 percent.
Sector performance was mixed. The banking, consumer goods, and industrial sectors faced slight declines, dropping by 0.81 percent, 0.10 percent, and 0.03 percent, respectively.
On the other hand, the insurance sector posted a 0.23 percent gain, and the oil/gas sector rose by 0.16 percent, adding some stability to the market’s overall performance.
In total, 24 stocks appreciated in value, while 27 saw declines. Leading the gainers was Eunisell Interlinked, rising 10 percent to close at N9.02. Aradel followed closely, with a 9.99 percent increase to N533.80.
John Holt shares surged by 9.98 percent to N5.29, DeapCap climbed 9.35 percent to close at N1.17, and Custodian shares rose 8.62 percent to N12.60 each.
Conversely, on the losers’ list, United Capital shed 9.78 percent, ending at N16.15. Sovereign Insurance declined 7.25 percent to N0.64, and Prestige Assurance dropped by 6.67 percent, closing at N0.56. Consolidated Hallmark Insurance saw a 5.88 percent dip, ending at N1.60, while Tripple G decreased by 5.49 percent, finishing at N1.72.
Overall trading activity was subdued, with a 37.82 percent drop in volume and a 20.21 percent decrease in value. However, trading deals saw a 9.84 percent increase, indicating steady investor engagement across fewer shares.
The day saw a total of 297.83 million shares traded in 9,902 transactions, amounting to N7.52 billion in value. Sterling Financial Holding Company Plc led in volume, with 36.1 million shares worth N180.9 million exchanged in 168 trades.
United Bank for Africa followed, trading 33,496,744 shares valued at N1.041 billion across 876 deals.
AccessCorp had 24,595,015 units traded, amounting to N590.09 million in 614 transactions, while Flour Mills of Nigeria saw 15,034,311 shares worth N977.29 million traded in 61 deals.
FBN Holdings, with an ongoing N150 billion rights issue, had 14,523,272 shares traded for a total of N398.27 million across 273 transactions.
United Bank for Africa led the value chart, with N1.04 billion worth of its shares changing hands.
