Nigerian Exchange Gains ₦987bn, Hits ₦62.90trn Market Capitalisation

The Nigerian Exchange (NGX) witnessed a robust growth of ₦987 billion on Monday, lifting the market capitalisation to ₦62.90 trillion in a post-Santa Claus rally.

This surge was largely driven by a private placement listing from Jaiz Bank and sustained bargain hunting across key equities.

The All-Share Index (ASI) rose by 1,016.05 points, a 0.99% increase, closing at 103,149.35. Jaiz Bank’s listing of 10.05 billion ordinary shares at ₦1.00 each contributed significantly to the market’s performance, further boosting investor sentiment.

Strong buying interest in medium- and large-cap stocks like LIVINGTRUST, MTNN, BUAFOODS, and NEIMETH supported the market’s bullish momentum. Despite mixed trading activities, the total volume of trades surged by 41.93% to 641.12 million units, valued at ₦15.50 billion across 13,778 deals.

UNIVINSURE led the activity chart by volume, contributing 11.20% of the total trades, while GTCO emerged as the most traded stock in value, accounting for 20.12% of the total transaction value.

The top gainers included MECURE, PRESTIGE, and NEIMETH, each recording a 10% price appreciation. Other notable gainers were LASACO (+9.96%), LIVINGTRUST (+9.92%), and MEYER (+9.91%). On the decliners’ list, PZ led with a 10% drop, followed by VITAFOAM (-9.62%) and NGXGROUP (-9.17%).

Sectoral performance mirrored overall market sentiment, with three indices closing in the green. The Insurance Index led gains with a 2.45% increase, supported by SUNUASSUR (+9.90%). Consumer Goods (+1.76%) and Industrial Goods (+0.01%) also posted gains, driven by upticks in BUAFOODS (+5.09%) and BERGER (+8.11%).

However, the Banking Index fell by 0.42%, while the Oil and Gas Index dipped by 0.35%, impacted by selloffs in STANBIC (-4.00%) and OANDO (-0.52%).

With a positive market breadth of 39 gainers to 21 losers, Monday’s trading session highlights investor confidence and sets a promising tone for the remaining trading days of the year.