The Nigerian Exchange (NGX) closed the first trading day of the week in positive territory, with investors pocketing N122.45 billion in market gains, driven largely by robust performances from Stanbic IBTC, BUA Foods, and a strong rally in the insurance sector.
The All-Share Index climbed by 193.56 basis points to close at 145,948.47, representing a 0.13% gain. Despite the market’s positive finish, trading activity slowed, with transaction volumes down 4.52% and total trade value falling sharply by 40.17%.
Data from the NGX revealed that 2.12 billion units of shares worth N19.40 billion were exchanged in 40,435 deals. LINKASSURE led the volume chart with 33.28% of total trades, followed by UNIVINSURE (10.90%), AIICO (7.32%), STERLINGNG (5.69%), and VERITASKAP (3.53%).
STANBIC topped the value chart, accounting for 8.93% of the total market value traded. Among the day’s biggest gainers were AIICO, SUNUASSUR, VERITASKAP, STANBIC, TIP, UNIVINSURE, and UPDC — each closing 10% higher. They were closely followed by CORNERST (+9.98%), MANSARD (+9.97%), ELLAHLAKES (+9.94%), INTENEGINS (+9.94%), and ENAMELWA (+9.93%).
On the flip side, ABBEYBDS and ABCTRANS shed 10% each to lead the losers’ list, with UACN (-9.99%), VFDGROUP (-9.70%), WAPCO (-9.28%), HONYFLOUR (-6.25%), and TANTALIZER (-1.48%) also closing lower.
Market breadth remained positive with 40 gainers against 36 losers. Sector-wise, insurance surged by 9.74%, consumer goods climbed 0.98%, and banking rose 0.44%. However, industrial goods dropped 1.47% while oil and gas declined 0.56%.
With the day’s gain, the equity market capitalisation settled at N92.34 trillion, reflecting the 0.13% rise. Analysts say the insurance sector’s performance may continue to provide upward momentum in the near term, supported by steady investor interest.
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