The Nigerian Exchange (NGX) snapped a three-day losing streak on Monday as investors recorded fresh gains of N60 billion, pushing market capitalisation up from N91.501 trillion to N91.561 trillion.
The All-Share Index rose by 94.27 points or 0.07 per cent to close at 144,722.47, lifted by strong demand in AIICO Insurance, UPDC, Cornerstone Insurance, Deap Capital, Custodian Investment and 38 other stocks.
Market breadth closed positive with 43 gainers against 27 losers. UPDC and AIICO led the chart, each advancing 10 per cent to close at N6.50 and N3.80 respectively. Cornerstone Insurance gained 9.99 per cent to N6.91, Deap Capital climbed 9.94 per cent to N1.61, while Custodian Investment added 9.93 per cent to N37.25.
On the losers’ side, Stanbic IBTC Holdings dropped 9.99 per cent to N100, PZ Cussons shed 7.89 per cent to N35, Nem Insurance fell 7.85 per cent to N29.95, Chams declined 5.26 per cent to N2.70, while The Initiates lost 5.11 per cent to N13.
Turnover closed at 1.15 billion shares valued at N16.17 billion in 38,160 deals, compared to 1.37 billion shares worth N13.92 billion in 32,065 deals on Friday.
Universal Insurance was the most traded stock by volume, with 202.25 million units worth N265.8 million. It was followed by Champion Breweries with 103.23 million shares valued at N1.16 billion, Linkage Assurance with 77.89 million shares worth N206.5 million, Lasaco Assurance with 66.41 million shares valued at N263.82 million, and Mutual Benefits Assurance with 57.8 million shares worth N244.5 million.
