NGX rallies as index surges to 251,290 points

NGX trading floor. Photo: NGX

The Nigerian equities market posted notable gains on Monday, driven by impressive advances across major sectoral indices and key blue-chip stock performances. The All-Share Index surged to 251,290.54 points, rising from Friday’s close of 247,222.27 points.

Correspondingly, market capitalisation expanded to N163.16tn, up from N160.52tn recorded in the previous trading session. Sectoral movements reflected broad bullish momentum, led by the NGX Industrial Index, which advanced sharply from 10,646.68 to 11,218.05 points, alongside significant gains in the Premium, Banking, and Pension indices. Meanwhile, the Central Bank of Nigeria’s Monetary Policy Rate remained benchmarked at 23.00 per cent.

Trading was highlighted by strong investor buying interest in industrial and financial heavyweights. Dangote Cement led the percentage gainers in the equity segment, jumping 10.00 per cent to close at N1,222.10 per share. Honeywell Flour Mill followed closely, advancing 9.78 per cent to N19.65, while Royal Exchange gained 9.18 per cent to finish at N1.07 per share.

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Capital market operator Nigerian Exchange Group also recorded strong buying pressure, rising 8.20 per cent to close at N165.00. Tier-1 banking institutions experienced positive price movement, with First Holdco gaining 7.56 per cent to reach N155.00, Access Corp climbing 4.15 per cent to N27.60, Guaranty Trust Holding Company appreciating 2.54 per cent to N125.10, and Zenith Bank adding 1.26 per cent to close at N120.90. Aradel Holdings rounded out notable gainers with a 2.48 per cent increase, closing at N1,439.90.

Conversely, profit-taking led several equities into negative territory. ABC Transport topped the losers’ list after dropping 9.59 per cent to end the day at N6.60. Caverton Offshore Support Group fell 9.38 per cent to N4.35, while Livestock Feeds dipped 9.09 per cent to N15.50.

Other prominent decliners included Champion Breweries, down 8.16 per cent to N9.00; PZ Cussons, falling 7.61 per cent to N63.70; DAAR Communications, decreasing by 7.59 per cent to N1.34; and Cadbury Nigeria, dropping 5.00 per cent to settle at N57.00. Fidelity Bank and United Capital also pulled back, shedding 4.17 per cent and 2.07 per cent to close at N23.00 and N16.55, respectively.