Nigerian Stock Market Starts Week on Positive Note, Reveals Gains

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The Nigerian Exchange (NGX) commenced the new trading week on a positive note, recording a market capitalisation increase of N52.17 billion. At the close of trading on Monday, the All Share Index (ASI) inched up by 83.31 points to settle at 106,621.91 points, reflecting a year-to-date gain of 3.59 per cent.

The overall market capitalisation stood at N66.8 trillion. Market activity showed a boost in turnover, with investors exchanging 364.97 million shares in 14,565 deals, valued at N17.63 billion. This represents a five per cent increase in volume, an 81 per cent improvement in turnover, and a 22 per cent rise in deals compared to Friday’s session.

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Eterna Plc led the gainers’ chart with a 9.96 per cent appreciation, closing at N37.55 per share. Transcorp followed with a 9.91 per cent increase to settle at N51.55, while FCMB Group gained 9.89 per cent, closing at N10.00 per share.

Other top gainers included Africa Prudential, which appreciated by 9.85 per cent to N36.25, and ABC Transport, which rose by 8.67 per cent to N1.63 per share. Dangote Sugar also recorded an 8.11 per cent increase, closing at N40.00 per share.

On the losers’ table, VFD Group suffered the worst decline, shedding 9.92 per cent to close at N47.20 per share. International Energy Insurance followed with an 8.72 per cent drop to N1.78, while Cadbury Nigeria lost eight per cent to close at N23.00 per share.

Fidelity Bank recorded the highest volume of shares traded, with 56.4 million units changing hands. Access Holdings followed with 30.4 million shares, Zenith Bank accounted for 27.6 million shares, while Africa Prudential saw 23.3 million shares traded.

Sectoral indices showed mixed performances. The Top 30 Index rose by 0.24 per cent, while the Pension Index gained 0.34 per cent. The Consumer Goods Index increased by 0.23 per cent, the Banking Index advanced by 0.2 per cent, and the Main Board Index appreciated by 0.17 per cent. However, the Premium Index declined by 0.08 per cent.

It’s worth noting that despite the positive start to the week, the Nigerian stock market recorded a decline of N476.0 billion in the previous week, with investors trading a total of 1.818 billion shares worth N47.226 billion in 64,222 deals.

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