Bulls dominate NGX as investors gain N228bn

The Nigerian equities market, known as the NGX, demonstrated strong performance on Monday, closing with modest gains across major indices. The Central Bank of Nigeria kept its monetary policy rate steady at 26.50 percent. The NGX All-Share Index experienced a 0.14 percent increase, closing at 250,156.80 points, up from 249,804.56 points from the previous Friday.

The total market capitalization of equities rose by N228.25 billion, reaching N162.39 trillion, compared to N162.16 trillion the prior day. Trading activity saw 68,506 deals executed, involving 574.12 million shares across various stock exchanges. Across sectors, indices such as the NGX Premium Index rose 0.29 percent to 31,714.33 points, while the NGX 30 Index gained 0.12 percent to 9,207.58 points.

Notable sectoral gains were observed in the NGX Banking Index (+0.68 percent), the NGX Insurance Index (+0.33 percent), and the NGX Industrial Index (+0.47 percent). The NGX Consumer Goods Index also saw a slight increase (+0.32 percent). Conversely, the NGX Oil/Gas Index declined by 0.40 percent, and the NGX Lotus Islamic Index slipped by 0.44 percent.

Investors showed preference for 39 advancing equities over 26 declining ones. Leading gainers included SUNU Assurances Nigeria Plc, NASCON Allied Industries Plc, Omatek Ventures Plc, and Thomas Wyatt Nigeria Plc, each up by 10.00 percent. Other top gainers were Critical Minerals Financing Corp Plc, Fortis Global Insurance Plc, and UPDC Plc. Notable decliners comprised The Okomu Oil Palm Company Plc and Custodian Investment Plc. Trading volume in the equities segment was concentrated in the financial services sector, with Mutual Benefits Assurance Plc leading with 53.58 million shares traded.