Investors Pocket N704bn as NGX Opens Week Strong
Equity investors gained N704 billion on Monday as the Nigerian Exchange (NGX) staged a strong rebound, lifted by renewed bargain-hunting in BUA Foods, GTCO, and Unilever Nigeria.
The rally pushed the All-Share Index (ASI) up 0.82 per cent, or 1,155.32 points, to close at 141,701.01 basis points.
Market capitalisation rose to N89.63 trillion, reversing losses from the previous session, as demand for medium- and large-cap stocks spurred momentum across sectors.
Trading activity surged with 545.41 million units worth N23.86 billion exchanged in 31,293 deals, reflecting increases of 25.46 per cent in volume and 47.58 per cent in value. UACN led by volume with 12.11 per cent of trades, while GEREGU dominated in value, accounting for 42.69 per cent.
LIVINGTRUST topped the gainers’ chart, rising 9.96 per cent, followed by ETRANZACT (+9.70%), REGALINS (+9.64%), UNILEVER (+8.41%), and CADBURY (+7.48%).
Conversely, MCNICHOLS led 30 decliners, down -9.90 per cent, with losses also recorded in HONYFLOUR (-9.13%), STERLINGNG (-4.43%), and FIRSTHOLDCO (-2.53%).
Sectoral performance was broadly positive, driven by a 3.54 per cent surge in the Consumer Goods index on strong gains in BUAFOODS, UNILEVER, and VITAFOAM. The Banking index added 0.05 per cent, while Insurance (-0.23%) and Oil & Gas (-0.09%) closed lower. Industrial and Commodity indices ended flat.
Market breadth remained firm, with 31 gainers against 30 losers. Analysts at Atlass Portfolio Limited noted that the rebound reflected sustained investor confidence in oversold yet fundamentally sound stocks, signalling a cautious but positive outlook for the week.
