NGX Investors Gain N228 Billion as All-Share Index Crosses 250,000 Points

Investors gained approximately N228 billion on the Nigerian Exchange (NGX) on Monday, September 21, as sustained buying pushed the All-Share Index above the 250,000-point threshold.

Equity market capitalisation increased to N162.385 trillion from N162.157 trillion at the close of the previous week, representing an increase of approximately N228 billion.

The NGX All-Share Index rose 0.14 percent to 250,156.80 points, extending the recovery that lifted the benchmark by 2.78 percent in the previous week.

Trading activity remained robust as investors exchanged 574.19 million shares worth N38.06 billion in 68,655 deals during the session.

While trading volume increased from the 525.99 million shares recorded on Friday, transaction value declined sharply from N96.89 billion.

The number of transactions, however, climbed from 44,240 deals on Friday to 68,655 deals on Monday, an increase of about 55.2 percent, suggesting broader transaction activity despite the lower monetary turnover.

Zenith Bank Plc dominated trading by value, recording 77.07 million shares worth N9.90 billion. The lender accounted for approximately 13.4 percent of total market volume and 26 percent of the N38.06 billion traded during the session.

Mutual Benefits Assurance followed by volume with 53.58 million shares worth N205.59 million, while Sterling Financial Holdings recorded 44.23 million shares valued at N339.33 million.

GTCO traded 25.86 million shares worth N3.41 billion, while AIICO Insurance recorded 24.38 million shares valued at N91.92 million.

Together, the five most actively traded equities accounted for approximately 225.13 million shares, or 39.2 percent of total market volume.

Zenith Bank and GTCO alone generated approximately N13.31 billion in transaction value, equivalent to about 35 percent of total equity turnover for the session.

Buying interest was also visible across several equities.

Omatek Ventures, Thomas Wyatt Nigeria, NASCON Allied Industries and SUNU Assurance appreciated by 10 percent each.

Omatek advanced from N1.20 to N1.32, Thomas Wyatt increased from N2.30 to N2.53, while NASCON climbed from N160 to N176.

SUNU Assurance appreciated from N2.80 to N3.08, while Critical Minerals Financing Corporation gained 9.80 percent to close at N2.24.

However, profit-taking persisted in some stocks.

Okomu Oil Palm recorded the steepest decline among the equities supplied, falling 10 percent from N1,418 to N1,276.20.

Custodian Investment declined 9.13 percent to N68.15, Sovereign Trust Insurance fell 8.64 percent to N2.01, Haldane McCall lost 8.33 percent to N3.30, while Ellah Lakes declined 5.39 percent to N7.90.

Sovereign Trust Insurance’s decline followed a strong performance in the previous week, when the stock gained 30.95 percent to N2.20, indicating profit-taking after its recent rally.

Activity in the exchange-traded fund segment was also positive among the instruments reported.

NEWGOLD increased from N89,000 to N89,500, while SIAMLETF40 rose from N2,904 to N3,194.40.

STANBICETF30 advanced from N1,270.50 to N1,397.55, GREENWETF increased from N740.27 to N804.69, and MERGROWTH appreciated from N121 to N123.

The five government securities supplied for the session closed unchanged.

Monday’s performance builds on the broad recovery recorded in the previous week, when the All-Share Index gained 2.78 percent and market breadth improved substantially.

The move above 250,000 points places the NGX benchmark at a new psychological threshold as investors continue to reposition across banking, insurance, consumer and other equities following the previous week’s rebound.