NGX Market Cap Tops N160trn as Equities Investors Gain N1.91trn
The Nigerian Exchange (NGX) market capitalisation and All-Share Index surged on Monday as investors gained more than N1.91 trillion due to buying interest across key sectors.
The local stock market opened the week on a positive note with the NGX All-Share Index gaining 1.21% to close at 248,529.75 points, pushing the year-to-date return to +59.71%.
Activity metrics weakened, with total volume and value traded decreasing by 48.16% and 4.36% to 787.1 million units and N25.5 billion, respectively.
FTGINSURE led the volume log, with 307.3 million units traded (39.05% of total volume), while FIRSTHOLDCO led the value, with trades worth N5.1 billion (20.08% of total volume).
Overall, the stock market capitalisation edged higher by ₦1.91 trillion to close at ₦160.42 trillion.
However, market sentiment was bearish, with market breadth settling at 0.6x, as 36 losers outnumbered 23 gainers. FTGINSURE (+10.00%) emerged as the best-performing counter, while AVACAP (-10.00%) led the laggards.
Market data indicates that the significant gains stemmed from AIRTELAFRI (+8.59%), INTBREW (+6.36%), GTCO (+1.56%), ACCESSCORP (+4.08%), and UBA (+3.01%). Sectoral performance was largely bearish, with four indices closing lower in today’s session.
The Insurance (-1.64%), Banking (-0.24%), Oil & Gas (-0.09%) and Industrial Goods (-0.05%) indices declined, reflecting selloffs in CORNERST (-7.96%), FIRSTHOLDCO (-2.34%), OANDO (-2.10%) and HBMNG (-0.31%), respectively.
Conversely, the Consumer Goods (+0.76%) index gained, fuelled by price upticks in INTBREW (+6.36%). Elsewhere, the commodity index closed flat. Naira Loses Against US Dollar, FX Reserves Cross $33bn
