The Nigerian Exchange Limited (NGX) reopened on a positive note yesterday as broad-based gains in 36 stocks, led by SFS Reit, BUA Cement and MTN Nigeria, boosted investors’ wealth by N155 billion.
At the close of trading, the All-Share Index rose by 244.53 points to 142,377.56, up from 142,133.03 recorded on Friday. Market capitalisation also advanced by 0.2 per cent, settling at N90.115 trillion from N89.960 trillion.
The rally was driven largely by price appreciation in medium- and large-cap stocks, including SFS Reit, BUA Cement, Eterna, Eunicell, Fidelity Bank, Fidson Healthcare and Guaranty Trust Holding Company (GTCO).
Despite the market’s uptick, activity levels declined. Volume of trades fell 25.97 per cent to 383.95 million units from 518.66 million recorded in the previous session, while the value of transactions dropped 35.63 per cent to N11.62 billion.
On the gainers’ chart, 25 equities appreciated. ThomasWay and SFS Reit topped the list, rising 10 per cent each to close at N3.63 and N364.55 per share respectively. Living Trust Insurance gained 9.9 per cent to close at N5.66, Eterna advanced 9.86 per cent to N30.65, while Caverton Business Solutions rose 9.28 per cent to N6.85.
Conversely, 36 stocks closed lower. Mansard Insurance led the laggards with a 10 per cent decline to N14.40, followed by UPL, which shed 9.85 per cent to N5.40. Julius Berger lost 8.7 per cent to N136.50, while Cornerstone Insurance dipped 7.42 per cent to N5.86.
FirstHoldco Plc dominated trading with 47.49 million shares valued at N1.47 billion. It was followed by EllahLakes with 24.46 million shares worth N290.87 million, Veritas Kapital with 21.87 million shares valued at N44.66 million, Zenith Bank with 18.75 million shares worth N1.31 billion, and Chams Plc, which traded 16.76 million shares valued at N56.56 million.
