The Nigerian Stock Exchange (NGX) opened the week on a strong footing, gaining N193 billion in market capitalization as the All-Share Index (ASI) rose by 0.31% in Monday’s trading session.
According to financial data published by Punch on Tuesday, the ASI climbed by 372.21 points, closing at 121,361.87 compared to 120,989.66 in the previous session.
This gain pushed the market capitalization up from N76.3 trillion to N76.5 trillion, reflecting renewed investor confidence, particularly ahead of the anticipated half-year earnings reports.
The market’s positive trajectory was driven largely by strong performances in the consumer goods, banking, and insurance sectors. A total of 824.1 million shares valued at N14.44 billion were traded across 24,042 deals.
While trade volume declined by 11% and transaction count dropped by 6% compared to Friday, July 4, the turnover surged by 31%, indicating a higher concentration of high-value transactions.
Market breadth was robust, with 53 stocks posting gains against 24 decliners from a pool of 125 traded equities.
Cadbury Nigeria Plc led the gainers, surging 10% to close at N53.35. It was followed closely by Ellah Lakes, UPDC REIT, and Tripple Gee, which each recorded 10% gains, ending the session at N8.91, N7.15, and N2.97 respectively. Red Star Express and NGX Group also posted notable gains of 9.92% and 9.91%.
On the losing side, Sunu Assurances fell 10% to N4.50, followed by RT Briscoe which declined 9.59% to N3.30, and Prestige Assurance which lost 9.09% to N1.20.
Universal Insurance led trading volume with 71.9 million shares exchanged. Other active stocks included FCMB (61.4 million shares), Japaul Gold (53.3 million), Access Holdings (42 million), and AIICO Insurance (40.1 million).
Nigerian Breweries topped the value chart with trades worth N2.39 billion, trailed by Zenith Bank (N1.42 billion), Nestlé Nigeria (N1.23 billion), GTCO (N1.02 billion), and Access Holdings (N942.8 million).
Sector-wise, performance was largely positive.
The NGX Banking Index advanced 0.94%, Consumer Goods rose 0.75%, Insurance climbed 0.39%, Pensions gained 0.38%, Premiums rose 0.34%, and the Top 30 Index increased by 0.17%.
“On a weekly basis, the ASI recorded a gain of 1.15%, with a four-week gain of 7.61% and a year-to-date return of 17.91%,” the report concluded.
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