The Nigerian Exchange (NGX) kicked off the week on a high, with equities gaining N285 billion in market capitalization, fueled by strong performances from Julius Berger Nigeria, Cutix, and insurance stocks. The All-Share Index rose 0.31% by 435.61 points to close at 141,439.75, lifting market capitalization to N89.5 trillion, signaling renewed investor confidence after last week’s downturn, according to NGX data.
Trading activity saw 589.73 million shares worth N11.22 billion exchanged in 33,304 deals, down 23% in volume and 56% in turnover from the prior session, though deal numbers surged 29%, indicating active market participation. Market breadth favored gainers, with 40 stocks advancing against 17 decliners. Julius Berger Nigeria led with a 9.93% increase to N146.10 per share, followed by Cutix at 9.86% to N3.90, Regency Alliance Insurance at 9.70% to N1.47, Veritas Kapital Assurance at 9.60% to N2.17, and McNichols at 9.37% to N3.50. NEM Insurance also gained 8.83%, closing at N28.95.
Conversely, University Press topped losers, dropping 12.06% to N5.54, followed by Cadbury Nigeria (-9.61% to N57.85), Abbey Mortgage Bank (-8.39% to N6.55), Daar Communications (-7.44% to N1.12), Austin Laz (-6.55% to N2.71), and Mecure Industries (-6.02% to N19.50). FCMB Group led trading volume with 105.1 million shares (N1.14 billion, 1,144 deals), followed by Veritas Kapital Assurance (59.6 million shares, N128.8 million) and Universal Insurance (34.4 million shares, N45.2 million). GTCO led by value with N2.39 billion, trailed by Aradel Holdings (N1.35 billion) and Zenith Bank (N709.4 million).
Sector performance was mixed, with the Insurance Index soaring 3.81%, driven by Regency Alliance, Veritas Kapital, and NEM Insurance. The Banking Index rose 1.12%, supported by FCMB, UBA, and Zenith Bank, while the NGX Pension Index and Main Board Index gained 0.49% and 0.43%, respectively. The Consumer Goods Index edged up 0.29%, but the Top 30 Index rose modestly by 0.25%. Despite a 2.27% weekly decline, the market retains a 4.64% four-week gain and a 37.42% year-to-date increase. Nigeria’s economic backdrop, with a 67.12% rise in capital importation to $5.64 billion in Q1 2025, supports this resilience, though naira volatility (N1,560/$1) and 21.88% inflation in July pose challenges.
