|By Babatunji Wusu
The Nigerian equities market roared back to life on Monday, as investors gained N804 billion in renewed buying momentum on the Nigerian Exchange Limited (NGX).
Market capitalisation climbed sharply from N125.164 trillion at the opening bell to N125.968 trillion at the close of trading, reflecting a 0.64 per cent increase. In the same stride, the All-Share Index (ASI) surged by 1,273.79 points to settle at 196,263.56, up from 194,989.77 recorded on Friday.
The rally further bolstered the market’s year-to-date return to 26.12 per cent, underscoring sustained investor confidence despite pockets of volatility. Market breadth, however, closed flat with 35 gainers and 35 losers, indicating a tightly contested trading session.
On the gainers’ chart, Okomu Oil and Fortis Global Insurance spearheaded the advance with maximum gains of 10 per cent each, closing at N1,605.60 and 66 kobo respectively. FG20203356, Fidson Healthcare, and NPF Microfinance Bank also posted notable price appreciation during the session.
Conversely, The Initiates Plc led the decliners with a 10 per cent drop to close at N17.55. Deap Capital Management, Multiverse Mining, Livingtrust Mortgage Bank, and Ellah Lakes also recorded losses as profit-taking trimmed gains in selected counters.
Trading activity accelerated significantly, as investors exchanged 1.3 billion shares valued at N31.5 billion across 95,091 deals. This marks a substantial improvement over Friday’s 820.5 million shares worth N28.3 billion traded in 63,507 transactions. The figures translate to a 57 per cent spike in volume, an 11 per cent increase in value, and a 50 per cent jump in total deals.
Japaul Gold dominated trading volume with 473.98 million shares, accounting for 36.78 per cent of the day’s total transactions. In value terms, Aradel Holdings led the pack with N4.14 billion worth of shares traded, representing 13.14 per cent of overall market value.
Meanwhile, the NGX issued a cautionary notice to investors over sharp and unusual price movements in certain listed equities. In an investor alert released on Monday, the Exchange flagged heightened volatility in some stocks, warning that such movements may not reflect the companies’ underlying fundamentals.
The Exchange urged investors to anchor decisions on thorough analysis of financial performance, risk exposure, and corporate fundamentals, assuring stakeholders of continued market surveillance to preserve integrity and protect investors.
