UBA Share Listing Drives NGX Market Capitalisation To ₦104.5 Trillion

The Nigerian Exchange (NGX) recorded a significant expansion in market capitalisation following the listing of additional shares by United Bank for Africa Plc (UBA), pushing the total value of listed equities to ₦104.5 trillion.

Market capitalisation rose by ₦745 billion from the previous session, reflecting the admission of 3.16 billion ordinary shares of UBA on the NGX. The fresh listing provided strong support for the equities market, reinforcing its ongoing upward momentum.

Trading opened the week on a positive note, with the NGX All-Share Index advancing by 0.58% to close at 163,244.69 points. The corresponding rise in market capitalisation to ₦104.52 trillion represented a 0.72% increase, driven primarily by the new UBA share listing.

Gains in several large-cap and mid-cap stocks underpinned the bullish close. Shares of WAPCO rallied by 6.00%, ARADEL gained 3.73%, FIRSTHOLDCO appreciated by 5.21%, while Nigerian Breweries added 4.00%. These advances more than offset losses recorded in DANGSUGAR, which declined by 2.11%, and CHAMPION Breweries, which shed 8.51%.

Overall investor sentiment remained firmly positive, with market breadth indicating broad-based participation. A total of 49 stocks closed in positive territory, compared to 20 decliners, resulting in a gain-to-loss ratio of 2.45 times. Leading the gainers’ table were ETRANZACT, REDSTAREX, UPDC, DEAPCAP, MCNICHOLS, and RT BRISCOE, each posting the maximum daily increase of 10.00%. On the downside, CHAMPION led the laggards.

Trading activity strengthened markedly during the session. Total share volume surged by 84.17% to 1.15 billion units, while transaction value increased by 3.84% to ₦19.23 billion. The number of executed deals also rose sharply, climbing by 35.47% to 59,359 transactions.

Sovereign Trust Insurance Plc (SOVRENINS) dominated the volume chart, with 307.5 million shares exchanged, accounting for 26.8% of total market volume. Fidelity Bank Plc led on the value side, recording trades worth ₦3.1 billion, representing 16.3% of the total value traded across the exchange.

Sectoral indices closed broadly positive, reflecting widespread buying interest. The Oil & Gas index advanced by 1.49%, supported by gains in ARADEL, while the Commodity index rose by 0.79%. Other sectors also ended higher, with the Insurance index up 0.88%, Banking index gaining 0.86%, Industrial Goods index rising 0.81%, and Consumer Goods index advancing by 0.57%.

Strong demand for stocks such as MANSARD, FIRSTHOLDCO, WAPCO, and Nigerian Breweries contributed to the positive performance across these sectors, reinforcing the market’s bullish tone.