Nigeria TV Info

Nigerian Exchange Gains N263bn as Consumer Goods, Insurance Stocks Drive Market

LAGOS — The Nigerian Exchange (NGX) kicked off the new trading week on a positive note, recording a N263 billion increase in market capitalisation as investors focused on consumer goods and insurance stocks, notably PZ Cussons Nigeria and University Press Plc.

At the close of transactions on Monday, the market capitalisation of listed equities rose to N88.2 trillion from N87.9 trillion recorded in the previous session, representing a growth of N263 billion. The benchmark All-Share Index (ASI) also advanced by 414.74 points, or 0.3 per cent, to close at 139,394.75 points.

Trading activity saw a turnover of 947.83 million shares valued at N17.96 billion exchanged across 36,006 deals. While this represented a 48 per cent decline in volume compared with the previous trading day, turnover improved by 12 per cent, and the number of deals increased by 46 per cent.

Market breadth closed positively, with 41 stocks gaining against 18 losers. PZ Cussons Nigeria topped the gainers’ chart, appreciating 10 per cent to close at N35.20 per share, followed by University Press Plc, which also gained 10 per cent to close at N5.50 per share. Ellah Lakes Plc rose 9.94 per cent to N14.27, while Legend Internet added 9.90 per cent to close at N5.44 per share.

The upbeat trading sentiment reflects investor confidence in consumer goods and insurance sectors, setting a strong tone for the rest of the week.