The Nigerian Exchange (NGX) extended its bullish trend on Monday, with investors gaining about N38 billion from increased interest in banking and insurance stocks. Trading activities began the week on a positive note, continuing the momentum from the previous week.
Stockbrokers reported modest gains in key market indicators, including the NGX All-Share Index (ASI) and market capitalisation, both advancing by 0.06%. The ASI rose by 61.91 basis points to close at 103,648.24.
Equities market activity also improved, with total volume and value traded increasing by 20.68% and 60.73%, respectively. Atlass Portfolios Limited reported that approximately 855.97 million units valued at N13,249.50 million were traded across 16,505 deals.
Top Performers and Market Movers
In terms of volume, CHAMS led the activity chart, accounting for 9.44% of total trades. Other significant volume drivers included VERITASKAP (7.07%), ACCESSCORP (6.35%), GTCO (6.31%), and PRESTIGE (5.72%). GTCO emerged as the most traded stock in value terms, representing 23.22% of the day’s total trade value.
On the gainers’ chart, DAARCOMM and WEMABANK recorded the highest price appreciation of 10.00% each. Other notable gainers included HONYFLOUR (+9.99%), WAPIC (+9.96%), LASACO (+9.95%), MULTIVERSE (+9.94%), and JOHNHOLT (+9.93%).
Conversely, CUTIX led the decliners with a price drop of -5.45%, followed by CAVERTON (-5.36%), JAIZBANK (-5.23%), IKEJAHOTEL (-4.26%), UCAP (-1.71%), and OANDO (-0.62%).
Sector Performance
Despite a positive overall market breadth with 47 gainers and 19 losers, sector performance was mixed. Three of the five major sectors recorded losses:
- Consumer Goods: Down by -0.35%
- Industrial Sector: Declined by -0.10%
- Oil & Gas: Dropped by -0.07%
Meanwhile, the Insurance and Banking sectors posted gains of 4.12% and 0.74%, respectively. Overall, the equities market capitalisation of the NGX rose by N37.75 billion, closing at N63.20 trillion.
 extended its bullish trend on Monday, with investors gaining about N38 billion from increased interest in....){kind=link}