The Nigerian equities market began the week on a strong note on Monday, as investors gained N804 billion in market value.
Market capitalisation on the Nigerian Exchange Limited (NGX) increased from N125.164 trillion at the start of trading to N125.968 trillion at the close, representing a gain of N804 billion or 0.64 per cent.
Similarly, the All-Share Index (ASI) rose by 1,273.79 points, or 0.64 per cent, to close at 196,263.56, up from 194,989.77 recorded on Friday. The positive performance lifted the market’s year-to-date return to 26.12 per cent.
Market breadth closed flat, with 35 gainers and 35 losers.
Top Performers
On the gainers’ chart, Okomu Oil and Fortis Global Insurance led with 10 per cent gains each, closing at N1,605.60 and 66k, respectively. FG20203356, Fidson, and NPF Microfinance Bank also recorded gains during the session.
On the losers’ table, The Initiates Plc topped with a 10 per cent decline to close at N17.55. Other decliners included Deap Capital Management, Multiverse Mining, Livingtrust Mortgage Bank, and Ellah Lakes.
Trading Activity Surges
Trading activity improved significantly, with a total of 1.3 billion shares valued at N31.5 billion exchanged in 95,091 deals.
This compares with 820.5 million shares worth N28.3 billion traded in 63,507 transactions on Friday, representing a 57 per cent increase in volume, an 11 per cent rise in value, and a 50 per cent growth in deals.
Japaul Gold recorded the highest trading volume with 473.98 million shares, accounting for 36.78 per cent of the total volume traded. Aradel Holdings led in value terms with N4.14 billion worth of shares, representing 13.14 per cent of the day’s total value.
NGX Issues Investor Alert
Meanwhile, the NGX issued a warning to investors over sharp and unusual price movements in the shares of some listed companies in recent trading sessions.
In an investor alert released on Monday, the Exchange said it had observed significant volatility that may not reflect the underlying fundamentals of the affected companies.
“Investors are encouraged to base their decisions on careful analysis of companies’ fundamentals, risk profile, and financial performance,” the notice stated.
The Exchange added that it remains vigilant in its market surveillance efforts to safeguard integrity and protect investors.
