Bulls dominate NGX as investors gain N228bn

The Nigerian equities market maintained a positive stance on Monday as trading activities closed with moderate gains across key indices. The Central Bank of Nigeria maintained its Monetary Policy Rate at 26.50 per cent. The NGX All-Share Index gained 352.24 points or 0.14 per cent to close at 250,156.80 points, up from 249,804.56 points recorded on Friday.

Correspondingly, total equity market capitalisation appreciated by N228.25bn to settle at N162.39tn compared to N162.16tn recorded in the previous session. The index reached a high of 250,156.80 points and a low of 244,304.51 points, bringing the period’s average index point to 247,074.61.

Overall trading activity saw investors execute 68,506 deals comprising 574.12 million shares across equities boards. Sectoral performance reflected broad-based interest across key market segments. The NGX Premium Index advanced 0.29 per cent to 31,714.33 points, while the NGX 30 Index gained 0.12 per cent to 9,207.58 points. Sectoral indices showed gains in the NGX Banking Index, which grew 0.68 per cent to 2,658.95 points, the NGX Insurance Index rising 0.33 per cent to 1,102.93 points, and the NGX Industrial Index adding 0.47 per cent to close at 10,354.72 points.

The NGX Consumer Goods Index also nudged upward by 0.32 per cent to 4,082.39 points. On the downside, the NGX Oil/Gas Index shed 0.40 per cent to 6,008.86 points, while the NGX Lotus Islamic Index slipped 0.44 per cent to 23,532.30 points.

On price movement, 39 equities advanced against 26 decliners. SUNU Assurances Nigeria Plc, NASCON Allied Industries Plc, Omatek Ventures Plc, and Thomas Wyatt Nigeria Plc led the gainers chart, each appreciating by 10.00 per cent to close at N3.08, N176.00, N1.32, and N2.53 respectively. They were followed by Critical Minerals Financing Corp Plc with a 9.80 per cent gain to N2.24, Fortis Global Insurance Plc up 9.70 per cent to N1.81, and UPDC Plc up 9.68 per cent to N3.40.

• Dangote speaks on plans to list all group businesses
• NGX inducts 103 dealing clerks, reinforces market integrity
• Dangote Petroleum Refinery IPO Opens for Subscription

Other notable gainers included Neimeth International Pharmaceuticals Plc gaining 8.96 per cent to N7.30, Transnational Corporation Plc advancing 6.78 per cent to N37.00, Oando Plc rising 4.85 per cent to N35.65, and Guaranty Trust Holding Company Plc gaining 3.00 per cent to N133.90.

Conversely, price decliners were led by The Okomu Oil Palm Company Plc, which suffered a maximum loss of 10.00 per cent to close at N1,276.20. Custodian Investment Plc depreciated by 9.13 per cent to N68.15, while Sovereign Trust Insurance Plc lost 8.64 per cent to settle at N2.01. Haldane McCall Plc dropped 8.33 per cent to N3.30, and Ellah Lakes Plc fell 5.39 per cent to N7.90.

Additional decliners included First Holdco Plc losing 5.44 per cent to N160.00, International Breweries Plc dropping 3.50 per cent to N9.65, Aradel Holdings Plc dipping 1.29 per cent to N1,530.00, and United Bank for Africa Plc dropping 0.79 per cent to N44.20.

Trading volume in the equities segment was driven by the Financial Services sector, where Mutual Benefits Assurance Plc generated significant activity with 53.58 million shares traded. Sterling Financial Holdings Company Plc followed with 44.23 million shares, while Guaranty Trust Holding Company Plc saw 25.85 million shares exchanged. AIICO Insurance Plc recorded 24.38 million shares, and Access Holdings Plc traded 22.66 million shares.

In other trading boards, Exchange Traded Funds recorded 1,207 deals for 570,463 units. Stanbic IBTC ETF 30 and The SIAMLETP Pension ETF 40 led the ETF gainers with 10.00 per cent appreciations to close at N1,397.55 and N3,194.40 respectively, while Greenwich Alpha ETF rose 8.70 per cent to N804.69. In the fixed-income segment, debt securities recorded 8 deals totaling 70,098 units, highlighted by trades in Federal Government and corporate bond instruments.