The Nigerian Exchange Limited (NGX) opened the week bullish on Monday, with investors recording a combined gain of N465 billion as renewed demand for key equities lifted market sentiment.
Market capitalisation rose by 0.50 per cent to close at N93.76 trillion, up from N93.30 trillion recorded on Friday, while the All-Share Index (ASI) advanced by 729.19 points to settle at 147,717.23.
The uptrend was driven by strong buying interest in Sovereign Trust Insurance, Regency Alliance Insurance, Transcorp Power, Consolidated Hallmark Holdings, and Halldane McCall, among others.
In total, 25 stocks gained while 25 declined, reflecting a flat market breadth.
Sovereign Trust Insurance led the gainers’ chart with a 9.97% rise to close at N3.53, followed by Regency Alliance Insurance, which appreciated 9.68% to N1.36. Transcorp Power advanced 8.92% to N342, while Consolidated Hallmark Holdings and Halldane McCall gained 7.14% and 6.80%, closing at N4.50 and N4.40, respectively.
Conversely, Tripple Gee topped the losers’ table, shedding 9.92% to close at N5.45, while Wema Bank and Livingtrust Mortgage Bank lost 4.51% and 3.85%, closing at N19.05 and N5.00, respectively.
Trading activity improved across all indicators, as 624.61 million shares valued at N13.5 billion were traded in 31,563 deals, compared to 386.6 million shares worth N11.26 billion in 21,842 deals on Friday.
Consolidated Hallmark Holdings topped the activity chart with 210.5 million shares valued at N909.6 million, followed by Fidelity Bank with 47.5 million shares worth N951.82 million. CHAMS, Universal Insurance, and Sovereign Trust Insurance also featured prominently in the day’s top trades.
Analysts say the positive start signals sustained investor confidence amid renewed interest in financial and insurance stocks.
