University Press Plc (UPL) emerged as the best-performing equity on the Nigerian Exchange (NGX) on Monday after its share price gained 9.89 percent to close at N5.
The publishing company’s stock advanced by N0.45 from its previous closing price of N4.55, placing it ahead of other major gainers during Monday’s trading session.
The advance also marked a sharp turnaround for UPL after the stock appeared among the market’s leading decliners during the previous week.
On Wednesday, September 23, UPL had fallen 9 percent, making it one of the five biggest percentage losers during that session.
Monday’s buying interest pushed the stock to the top of the gainers’ table with its 9.89 percent increase coming close to the NGX’s 10 percent daily price limit.
Critical Minerals Financing Corporation followed with a 9.82 percent gain, rising from N3.26 to N3.58.
ABC Transport advanced 9.80 percent from N5.10 to N5.60, while Eterna appreciated 9.62 percent from N39 to N42.75.
Sovereign Trust Insurance completed the five leading gainers after rising 9.17 percent from N2.40 to N2.62.
The gains came as the broader equities market started the week on a positive note.
The NGX All-Share Index increased 453.43 points, or approximately 0.18 percent to 252,566.84 points from 252,113.41 points recorded on Friday.
Equity market capitalisation increased by approximately N299.36 billion to N163.95 trillion from N163.66 trillion in the previous session.
Trading activity also strengthened by volume with investors exchanging 1.014 billion shares worth N39.02 billion across 61,517 deals.
This compared with 708.85 million shares valued at N58.35 billion in 42,496 transactions on Friday.
While UPL led Monday’s gainers with its 9.89 percent rise to N5, Fortis Global Insurance headed the opposite side of the market after declining 9.50 percent to N1.81.
