NGX opens week with N987bn gain

At the close of the first trading day of the week, the Nigerian Exchange Limited recorded a market capitalisation of N62.5tn, with a total of 641,117,293 shares traded in 13,778 deals.

The value of these transactions amounted to N15.50bn, reflecting a 44 per cent increase in trading volume, a 3 per cent increase in turnover, and a 10 per cent rise in the number of deals compared to the previous trading day.

In terms of market performance, the NGX All-Share Index rose by 0.99 percent to close at 103,149.35 points. This represents a one-week gain of 1.88 per cent, a four-week gain of 5.49 per cent, and a year-to-date increase of 37.95 per cent.

The trading session saw a total of 127 listed equities on the exchange, with 39 gaining and 21 losing.

Among the top gainers, MeCure Industries, Neimeth International Pharmaceuticals, and Prestige Assurance Company all saw a 10 per cent rise in their share prices, closing at N12.65, N2.09, and N1.10 per share, respectively. Lasaco Assurance followed closely with a 9.96 per cent increase, closing at N3.09, while Livingtrust Mortgage Bank gained 9.92 per cent, closing at N3.99, and Meyer Plc rose by 9.91 per cent to close at N8.43.

On the losing side, PZ Cussons Nigeria recorded the highest decline, dropping 10 per cent to close at N26.10. This was followed by Vitafoam Nigeria, which lost 9.62 per cent to close at N21.60, and NGX Group, which dropped 9.17 per cent to end the day at N27.25. Other notable losers included Ikeja Hotel, which fell by 7.41 per cent to close at N11.25; Eterna Plc, which dropped 5.26 per cent to N27.00; and Japaul Gold, down by 4.11 per cent to close at N2.10.

Universal Insurance Company led the market in trading volume with 71.5 million shares, followed by Guaranty Trust Holding, which saw 54.7 million shares traded, and Access Holdings with 46.6 million shares. C&I Leasing also recorded a high volume of 32.3 million shares.

In terms of sectoral performance, the Top 30 Index gained 1.15 per cent and saw a 36.93 per cent rise year-to-date. The Insurance Index also increased, rising 2.45 per cent, while the Consumer Goods Index gained 1.76 per cent, reflecting a 54.88 per cent year-to-date rise.

The PUNCH reported that the Nigerian equity market recorded a gain of N472bn during the shortened trading week, as the Federal Government declared Wednesday, December 25, and Thursday, December 26, 2024, public holidays for Christmas celebrations.