The Nigerian Exchange (NGX) kicked off the week on a positive note, with market capitalisation rising by ₦795 billion. This growth was driven by strong investor interest in banking and consumer goods stocks.
The NGX All-Share Index increased by 0.79%, closing at 104,418.95 points, while market capitalisation grew by 1.25% to ₦64.44 trillion. A major contributor to the rise was the listing of GTCO Plc’s 9 billion new shares, priced at ₦44.50 each.
Despite the gains, market activity was mixed. The total number of shares traded dropped by 10.08%, but the value of transactions rose significantly by 48.10%. About 518.28 million shares worth ₦13.30 billion were traded in 17,196 deals.
ACCESSCORP led in trading volume, accounting for 9.89% of all shares traded. Other top performers included FCMB, STERLINGNG, ZENITHBANK, and UBA. In value terms, ZENITHBANK dominated, representing 12.69% of the total trade value.
BETAGLASS led the gainers with a 9.98% price increase, followed by RTBRISCOE (+9.92%) and ACCESSCORP (+9.88%). Overall, 38 stocks gained, while 30 declined. Notable losers included MRS (-10.00%), TRANSCOHOT (-9.97%), and CADBURY (-9.28%).
Sector performance was mixed: banking and consumer goods sectors grew by 4.71% and 1.74%, respectively, while insurance, oil & gas, and industrial sectors saw slight declines. Despite this, the market breadth remained positive, reflecting investors’ optimism.
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