NGX records strong opening, adds N611bn to market capitalisation

The Nigerian Exchange opened the week on a positive note as investors recorded a gain of N611bn, driven largely by price appreciation in industrial stocks, particularly BUA Cement, and renewed investor interest in select mid-cap equities.

At the close of Monday’s trading, the market capitalisation rose to N95.2tn from N94.6tn recorded in the previous session, representing a 0.65 per cent increase. Similarly, the All-Share Index appreciated by 963.17 points to close at 149,940.81, marking a one-week gain of 1.51 per cent, a four-week gain of 5.71 per cent, and a robust year-to-date growth of 45.68 per cent.

Market data showed that a total of 415.04 million shares worth N26.96bn were traded in 31,486 deals, representing a 14 per cent decline in volume but a 62 per cent improvement in turnover when compared to the previous trading session.

A total of 130 equities participated in the day’s trading, ending with 30 gainers and 33 losers. Union Dicon Salt Plc topped the gainers’ chart with a 10 per cent increase to close at N8.80 per share.

It was followed by Eunisell Interlinked Plc, which rose 9.92 per cent to N53.20 per share; Sovereign Trust Insurance Plc, which appreciated 6.44 per cent to N3.80 per share; and BUA Cement Plc, which advanced 6.25 per cent to N170 per share.

On the flip side, Juli Plc led the losers with a 9.94 per cent decline to close at N8.06 per share. Thomas Wyatt Nigeria Plc followed with a 9.63 per cent loss to close at N2.72 per share, while Daar Communications Plc and Universal Insurance Plc dipped 7.14 per cent and five per cent, respectively.

In terms of activity, Fidelity Bank emerged as the most traded stock by volume, exchanging 49.44 million shares valued at N982.26m. Access Holdings followed with 41.21 million shares worth N1.05bn, while Chams Holdings and Nigerian Breweries recorded trades of 20.20 million and 17.89 million shares, respectively.

On the value chart, Geregu Power Plc led with transactions worth N9.29bn, followed by Aradel Holdings Plc with N3.28bn, Dangote Cement Plc with N1.97bn, MTN Nigeria with N1.47bn, and Nigerian Breweries with N1.39bn.

Sectoral performance reflected broad-based gains across major indices. The Industrial Index led with a 2.34 per cent increase, followed by the Top 30 Index (+0.68 per cent), Premium Index (+0.66 per cent), NGX Main Board Index (+0.66 per cent), NGX Oil & Gas Index (+0.65 per cent), and Pension Index (+0.55 per cent).

Market analysts attributed the bullish sentiment to renewed confidence in industrial and blue-chip stocks, as investors positioned for improved earnings and dividend expectations in the fourth quarter of the year.