Lagos: The equities market experienced a significant rebound on Monday, with investors gaining N1.725 trillion, reversing the previous session’s losses. A renewed interest in key stocks like NGX Group, Aradel, Union Homes Real Estate Investment, Sovereign Trust Insurance, and PZ, alongside 26 other advancing stocks, contributed to the market’s positive performance.
According to News Agency of Nigeria, the market capitalisation increased by N1.725 trillion or 1.39 per cent, rising from N123.763 trillion at the opening to N125.488 trillion at the close. Similarly, the All-Share Index (ASI) advanced by 1.39 per cent, gaining 2,687.45 points to close at 195,514.23 compared to 192,826.78 reported on Friday. This led to an increase in the Year-to-Date (YTD) return, which rose to 25.64 per cent. The market breadth remained flat with 31 gainers and 31 losers.
NGX Group led the gainers’ chart by 10 per cent, closing at N136.40, followed by Aradel with a 9.99 per cent increase, finishing at N1,992.30. Union Homes Rea
l Estate Investment gained 9.96 per cent, ending the session at N76.15 per share. Sovereign Trust Insurance rose by 9.95 per cent, settling at N2.43, and PZ Cussons increased by 9.72 per cent, closing at N79 per share.
Conversely, Custodian Investment topped the losers’ chart by 10 per cent, settling at N61.20. Mc Nicholas trailed with a 9.92 per cent decline, ending the session at N7.63, and Africa Prudential shed 9.75 per cent, closing at N16.20 per share. Chams lost 9.11 per cent, finishing at N4.09, while Neimeth Pharmaceutical dipped by 8.23 per cent, closing at N10.60 per share.
Meanwhile, a total of 789.8 million shares valued at N35.08 billion were traded in 84,259 deals, compared with 823.8 million shares worth N34.8 billion exchanged in 63,759 transactions in the previous period. This revealed a one per cent increase in value, 32 per cent growth in deals, and a four per cent decline in volume. Fortis Global Insurance recorded the highest volume with 109.07 million shares traded, accounting for 13.
81 per cent of the day’s total volume. Aradel recorded the highest value at N6.09 billion, accounting for 17.37 per cent of value traded for the day.