The Nigerian Exchange (NGX) experienced a rebound on Friday, with investors’ portfolios increasing by N30 billion. This followed the Securities and Exchange Commission’s (SEC) announcement to raise the minimum capital requirements for capital market operators. The NGX’s market capitalization rose by N30 billion to N106.353 trillion, up from N106.323 trillion at the opening.
The All-Share Index also appreciated by 0.04 percent, or 72.21 points, to settle at 166,129.50. Market breadth closed positive, with 43 gainers outpacing 26 losers. Red Star Express led the gainers, with a 10 percent increase to close at N13.20 per share. NCR Nigeria and SCOA followed, with gains of 9.97 percent and 9.96 percent, respectively.
In contrast, McNicholas led the losers, with an 8.81 percent decline to close at N6. Other notable decliners included Legend Internet, Cornerstone Insurance, Cileasing, and Austinlaz. Trading activity weakened during the session, with total volume and value declining. A total of 539.9 million shares worth N16.7 billion were traded in 48,023 deals, compared to 1.03 billion shares valued at N31.6 billion exchanged in 51,227 transactions on Thursday.
Zenith Bank recorded the highest trading activity, with 54.55 million shares valued at N3.79 billion. The SEC’s announcement, which sets June 30, 2027, as the compliance deadline for new capital thresholds, is expected to impact market operators. The move aims to strengthen the capital market and enhance investor confidence. As the NGX continues to evolve, market participants will be closely watching the implementation of these new requirements and their effects on the market. The increase in minimum capital requirements is part of the SEC’s efforts to regulate and develop the Nigerian capital market, ensuring it remains competitive and attractive to investors.
