NGX Investors Gain N299 Billion as Market Capitalisation Hits N163.95 Trillion

Investors on the Nigerian Exchange (NGX) gained approximately N299 billion on Monday as renewed buying interest pushed the equity market capitalisation to N163.95 trillion.

Market capitalisation increased from N163.655 trillion recorded on Friday to N163.955 trillion, representing an increase of approximately N299.36 billion.

The NGX All-Share Index also advanced by 453.43 points, or 0.18 percent to 252,566.84 points from 252,113.41 points at the close of the previous trading session.

Trading activity strengthened considerably by volume with investors exchanging 1.014 billion shares worth N39.02 billion in 61,517 deals.

This compares with 708.85 million shares valued at N58.35 billion across 42,496 transactions on Friday.

Accordingly, trading volume increased by approximately 43.1 percent, while the number of deals jumped 44.8 percent.

However, the value of transactions declined by about 33.1 percent, showing that the sharp increase in the number of shares traded did not translate into a corresponding increase in monetary turnover.

Fidelity Bank dominated market activity, recording 527.43 million shares valued at N10.62 billion.

The lender alone accounted for approximately 52 percent of the entire 1.014 billion shares traded on the Exchange during the session.

Access Holdings followed with 56.33 million shares worth N1.79 billion, while Chams recorded 41.44 million shares valued at N138.08 million.

Zenith Bank traded 24.69 million shares worth N3.32 billion, while GTCO recorded 23.47 million shares valued at N3.22 billion.

On the gainers’ table, University Press Plc led with a 9.89 percent increase to N5, from N4.55.

Critical Minerals Financing Corporation followed with a 9.82 percent gain from N3.26 to N3.58, while ABC Transport appreciated 9.80 percent from N5.10 to N5.60.

Eterna advanced 9.62 percent to N42.75, while Sovereign Trust Insurance gained 9.17 percent to close at N2.62.

On the other side of the market, Fortis Global Insurance led the decliners after losing 9.50 percent to N1.81, from N2.

Trans-Nationwide Express declined 8.47 percent to N2.70, while RT Briscoe fell 6.07 percent from N10.70 to N10.05.

Wapic Insurance dropped 6.03 percent to N2.18, while Omatek Ventures declined 4.73 percent to N1.41.

Monday’s advance extended the positive momentum recorded during the previous week with the benchmark index closing at 252,566.84 points and equity market capitalisation at N163.95 trillion.