Bulls dominate NGX as investors gain N228bn

On Monday, the Nigerian equities market experienced a positive trend as trading concluded with slight gains across primary indices. The Central Bank of Nigeria held its Monetary Policy Rate steady at 26.50 percent. The NGX All-Share Index achieved a rise of 352.24 points, or 0.14 percent, closing at 250,156.80 points, an increment from 249,804.56 points recorded on Friday.

In tandem, the overall equity market capitalization surged by N228.25 billion to reach N162.39 trillion from N162.16 trillion the previous day. The index's peak stood at 250,156.80 points, while its nadir touched 244,304.51 points, averaging 247,074.61 points throughout the trading day. Total trading activity comprised 68,506 deals involving 574.12 million shares on various equity boards.

Interest was widespread across multiple sectors, with the NGX Premium Index increasing 0.29 percent to 31,714.33 points and the NGX 30 Index gaining 0.12 percent to 9,207.58 points. Notable sectoral indices such as the NGX Banking Index grew 0.68 percent to 2,658.95 points, the NGX Insurance Index climbed 0.33 percent to 1,102.93 points, and the NGX Industrial Index added 0.47 percent to close at 10,354.72 points.

Conversely, the NGX Oil/Gas Index declined 0.40 percent to 6,008.86 points, while the NGX Lotus Islamic Index dropped 0.44 percent to 23,532.30 points. Price-wise, 39 equities experienced gains compared to 26 decliners. Notable gainers included SUNU Assurances Nigeria Plc, NASCON Allied Industries Plc, Omatek Ventures Plc, and Thomas Wyatt Nigeria Plc, each surging by 10.00 percent to close at N3.08, N176.00, N1.32, and N2.53, respectively.

Other significant gainers were Critical Minerals Financing Corp Plc, Fortis Global Insurance Plc, and UPDC Plc, with gains of 9.80, 9.70, and 9.68 percent respectively. In contrast, price decliners were led by The Okomu Oil Palm Company Plc, which witnessed a maximum loss of 10.00 percent to close at N1,276.20, followed by Custodian Investment Plc, Sovereign Trust Insurance Plc, Haldane McCall Plc, and Ellah Lakes Plc. The highest trading volume was observed in the Financial Services sector, where Mutual Benefits Assurance Plc facilitated 53.58 million shares, followed by Sterling Financial Holdings Company Plc with 44.23 million shares, and Guaranty Trust Holding Company Plc with 25.85 million shares.