Lagos, Nigeria – In a positive turn of events, investors at the Nigerian Exchange (NGX) closed on Monday with a marginal gain of N8 billion amidst the recent foreign policy reforms introduced by President Bola Ahmed Tinubu’s administration.
The All-Share Index for the day rose by 0.02 per cent to close at 59,014.85 index points, surpassing the 59,000.96 index points recorded in the previous day’s trading session.
With the market capitalization of equities standing at N32.134 trillion, an increase of N8 billion compared to the N32.126 trillion recorded in the previous trading session, the market sentiment remains positive.
Universal Insurance Plc emerged as the leading gainer with a 10.00 per cent rise in share price, followed closely by Tantalizer with a 10 per cent gain, and Unity Bank not far behind with a rise of 9.80 per cent. MBenefit and FTNCocoa completed the gainers list with increases of 9.76 per cent and 9.63 per cent respectively.
On the other hand, Ellahlakes Plc took the lead among the losers, experiencing a decline of 10.00 per cent, followed by JohnHolt (-9.57 per cent) and Academy (-9.55 per cent). Omatek and Regalins also made it to the laggards list, both seeing a depreciation of -7.14 per cent.
The most actively traded equity by volume at the end of the trading session was Jaiz Bank Plc, with SterlingNG and UNIVINSURE following suit with significant trading volumes of 105,543,000 and 95,115,898 shares respectively.
In terms of value, the top three traded shares were GTCO (N2.6 billion), UBA (N693 million), and SterlingNG (N311 million).
With an increase of 34.80 per cent from the previous day’s session, the trading volume for the day stood at N892.95 million units of shares.
This marginal gain on Monday is an extension of the bullish trading week that saw investors earning a total of N1.7 trillion. The market rally was mainly attributed to the suspension of the former Central Bank Governor, Godwin Emefiele, and the Central Bank of Nigeria’s decision to float the Nigerian naira.
