The Nigerian Exchange (NGX) started the week on a strong note, with market capitalization increasing by ₦795 billion. This growth was fueled by robust investor interest in banking and consumer goods stocks.
The market capitalisation expanded by 1.25% to ₦64.44 trillion, while the NGX All-Share Index rose by 0.79% to close at 104,418.95 points. The offering of GTCO Plc’s 9 billion new shares, which were priced at ₦44.50 each, was a significant factor in the increase.
Despite the gains, market activity was mixed. The total number of shares traded dropped by 10.08%, but the value of transactions rose significantly by 48.10%. About 518.28 million shares worth ₦13.30 billion were traded in 17,196 deals.
ACCESSCORP led in trading volume, accounting for 9.89% of all shares traded. Other top performers included FCMB, STERLINGNG, ZENITHBANK, and UBA. In value terms, ZENITHBANK dominated, representing 12.69% of the total trade value.
BETAGLASS led the gainers with a 9.98% price increase, followed by RTBRISCOE (+9.92%) and ACCESSCORP (+9.88%). Overall, 38 stocks gained, while 30 declined. Notable losers included MRS (-10.00%), TRANSCOHOT (-9.97%), and CADBURY (-9.28%).
The banking and consumer goods industries experienced growth of 4.71% and 1.74%, respectively, while the insurance, oil and gas, and industrial sectors experienced minor declines. In spite of this, investors’ optimism was reflected in the market’s bullish breadth.
