By Chukwuma Umeorah
The Nigerian Exchange (NGX) began the trading week on a strong note as the equities market rose by 0.62 per cent on Monday following widespread buying interest across key sectors.
The benchmark All-Share Index (ASI) advanced to 106,698.50 points, adding approximately N412.3 billion to the market capitalisation, which closed at N67.06 trillion.
Sectoral performance was largely bullish, with five of six tracked indices closing in the green. The Consumer Goods Index led with a 2.90 per cent gain, followed by Insurance (2.69 per cent), Oil & Gas (2.58 per cent), Commodities (1.59 per cent), and Industrial Goods (0.07 per cent). The Banking Index, however, declined by 1.62 per cent as some Tier-1 counters experienced sell-offs.
Market breadth remained positive, recording 35 gainers against 29 losers. Top performers included BETAGLAS adding 9.97 per cent in value closing at N120.75 per share, followed by TIP rising by 9.90 per cent to close at N5.44 per share while CADBURY gained 9.87 per cent and ended the day’s trade at N35.05 per share
CAVERTON and MULTIVERSE also appreciated by 9.77 per cent and 9.45 per cent closing at N2.92 and N6.95 per share.
On the losing end were ECOBANK shedding 9.62 per cent in value to N23.50 per share. MEYER lost 6.70 per cent closing at N8.35 per share while CUSTODIAN dropped by 4.72 per cent closing at N17.15 per share. Trading activity was strong, with investors transacting 569.04 million shares worth N18.93 billion in 18,612 deals. The day’s most active stocks by value included GTCO (N3.12 billion), ARADEL (N2.28 billion), FBNH (N1.89 billion), ACCESSCORP (N1.83 billion), and MTNN (N1.37 billion), pointing to sustained interest in large-cap equities.
Futureview Research analysts in their recent recommendation forecasted a bullish trading week, “though the NTB Auction may divert some liquidity”.
Sentiment should remain broadly positive, with investors focusing on undervalued, dividend-paying stocks for stable returns.”