Omatek Ventures Plc, NASCON Allied Industries Plc and SUNU Assurance Nigeria Plc were among four stocks that appreciated by 10 percent on the Nigerian Exchange (NGX) on Monday, September 21, as buying interest helped the broader market extend its recent rally.
Thomas Wyatt Nigeria Plc also gained 10 percent, while Critical Minerals Financing Corporation (CMFC) advanced 9.80 percent to complete the five leading gainers reported for the session.
Omatek rose from N1.20 to N1.32, adding N0.12 per share, while Thomas Wyatt advanced from N2.30 to N2.53.
NASCON gained N16 per share, rising from N160 to N176, while SUNU Assurance appreciated from N2.80 to N3.08.
CMFC climbed from N2.04 to N2.24, representing an increase of 9.80 percent.
The gains helped sustain positive momentum on the NGX following the broad recovery recorded in the previous week.
The NGX All-Share Index advanced 0.14 percent to 250,156.80 points, moving above the 250,000-point threshold, while equity market capitalisation increased by approximately N228 billion to N162.385 trillion.
The positive close came despite substantial selling pressure in some high-priced and recently appreciating stocks, underscoring the selective nature of Monday’s trading.
Okomu Oil Palm Plc led the decliners after falling by the maximum 10 percent, dropping from N1,418 to N1,276.20 and wiping N141.80 from its share price.
Custodian Investment declined 9.13 percent from N75 to N68.15, while Sovereign Trust Insurance fell 8.64 percent from N2.20 to N2.01.
Haldane McCall lost 8.33 percent to close at N3.30, while Ellah Lakes declined 5.39 percent to N7.90.
Sovereign Trust Insurance’s decline was particularly notable after the insurer had gained 30.95 percent during the previous week, suggesting profit-taking following its sharp advance.
Market activity remained strong in volume and deal terms.
Investors exchanged 574.19 million shares valued at N38.06 billion in 68,655 deals, compared with 525.99 million shares worth N96.89 billion in 44,240 deals on Friday.
Zenith Bank led trading activity with 77.07 million shares worth N9.90 billion, while Mutual Benefits Assurance followed with 53.58 million shares valued at N205.59 million.
Sterling Financial Holdings recorded 44.23 million shares worth N339.33 million, GTCO traded 25.86 million shares valued at N3.41 billion, and AIICO Insurance recorded 24.38 million shares worth N91.92 million.
Monday’s performance showed that buying interest remained strong enough to keep the benchmark index in positive territory with four equities reaching the 10 percent daily appreciation mark even as investors took profits in other parts of the market.
