The Nigerian Exchange (NGX) started the week on a positive note, adding N60bn in market value on Monday and reversing some of the losses recorded in the previous week.
The benchmark All-Share Index (ASI) edged up by 94.27 points, or 0.07 per cent, to close at 144,722.47, lifting market capitalisation to N91.6tn from Friday’s N91.54tn. This performance leaves the market with a one-week loss of 0.79 per cent, a four-week gain of 9.78 per cent, and a robust year-to-date growth of 40.61 per cent.
Trading Activity
Investors exchanged 1.05 billion shares worth N15.05bn in 38,137 deals. While this reflected a 24 per cent drop in traded volume compared to the previous session, turnover rose 8 per cent, and the number of deals improved by 19 per cent.
Market Movers
Market breadth closed on a strong footing, with 43 gainers against 27 losers.
- UPDC led the gainers with a 10 per cent jump to N7.15 per share.
- Aiico Insurance also climbed 10 per cent to N4.18.
- Cornerstone Insurance gained 9.99 per cent to N7.60, while
- Deep Capital Management & Trust advanced 9.94 per cent to N1.77.
On the downside:
- Stanbic IBTC Holdings shed 9.99 per cent to close at N100.00, topping the losers’ chart.
- PZ Cussons dropped 7.89 per cent to N35.00.
- NEM Insurance lost 7.85 per cent to N29.95, while
- Chams slipped 5.26 per cent to N2.70.
Sectoral Performance
The insurance sector was the day’s star performer, with the NGX Insurance Index surging 5.26 per cent, bringing its year-to-date return to a massive 98.41 per cent. The NGX Consumer Goods Index also rose 1.15 per cent, while the NGX Top 30 Index and the Premium Index dipped 0.14 per cent and 0.19 per cent, respectively.
Most Active Stocks
- In terms of volume, Universal Insurance led the chart with 202.2 million shares traded, followed by Linkage Assurance (77.9m), Lasaco Assurance (66.4m), and Mutual Benefits Assurance (57.8m).
- By value, GTCO dominated with N1.05bn, ahead of Zenith Bank (N987.76m), Aradel Holdings (N945.58m), AccessCorp (N829.71m), and UBA (N779.15m).
Market Context
Last week, profit-taking activities dragged the NGX down by N713bn in market capitalisation, with the ASI slipping 0.77 per cent to 144,628.20 after weeks of strong bullish momentum. Monday’s rebound suggests renewed investor confidence, with insurance stocks at the forefront of the rally.
