NGX MARKET CAPITALISATION RISES BY N228BN AS STOCKS GAIN

The Nigerian equities market closed higher on Monday, with investors’ wealth increasing by N228.25bn as buying activity lifted key market indices.

The NGX All-Share Index gained 352.24 points, representing a 0.14 per cent increase, to close at 250,156.80 points, compared with 249,804.56 points recorded at the previous session. Market capitalisation also rose from N162.16tn to N162.39tn.

A total of 574.12 million shares were traded in 68,506 deals across the equities market.

The positive performance was reflected across several sectors. The NGX Banking Index rose by 0.68 per cent, while the Insurance Index gained 0.33 per cent. The Industrial Index increased by 0.47 per cent, while the Consumer Goods Index appreciated by 0.32 per cent.

However, the Oil/Gas Index declined by 0.40 per cent, while the NGX Lotus Islamic Index fell by 0.44 per cent.

SUNU Assurances Nigeria, NASCON Allied Industries, Omatek Ventures and Thomas Wyatt Nigeria led the gainers, with each stock rising by 10 per cent.

Other notable gainers included Transnational Corporation, which rose by 6.78 per cent, Oando, up 4.85 per cent, and Guaranty Trust Holding Company, which gained three per cent.

On the losing side, Okomu Oil Palm Company recorded the biggest decline, falling by 10 per cent. Custodian Investment and Sovereign Trust Insurance also recorded losses of 9.13 per cent and 8.64 per cent respectively.

The market closed with 39 gainers and 26 decliners, reflecting continued positive movement in several major segments.