The Nigerian Exchange (NGX) kicked off the new trading week with a robust N263 billion increase in market capitalization, reaching N88.2 trillion from N87.9 trillion, as investors showed strong interest in consumer goods and insurance stocks. The All-Share Index climbed 0.3% or 414.74 points to close at 139,394.75, signaling a positive shift after a challenging prior week, according to data released Tuesday.
Trading activity saw 947.83 million shares exchanged for N17.96 billion across 36,006 deals, marking a 48% drop in volume but a 12% rise in turnover and a 46% increase in transactions compared to the previous session. PZ Cussons Nigeria and University Press Plc led the gainers, each rising 10% to N35.20 and N5.50 per share, respectively. Ellah Lakes Plc gained 9.94% to N14.27, while Legend Internet edged up 9.90% to N5.44.
On the downside, Nigerian Enamelware Plc and Industrial and Medical Gases Nigeria Plc topped the losers, both declining 10% to N35.10 and N33.30 per share, respectively. Union Dicon Salt Plc and Thomas Wyatt Nigeria Plc also dropped 10% to N10.80 and N2.70. FCMB Group Plc dominated trading volume with 460.95 million shares worth N4.73 billion, followed by Universal Insurance with 42.22 million shares valued at N53.39 million.
In value terms, FCMB led with N4.73 billion, trailed by Zenith Bank (N1.73 billion), GTCO (N1.60 billion), Dangote Sugar (N1.41 billion), and Nestle Nigeria (N930.13 million). Sector performance was strong, with the NGX Insurance Index up 3.16% and the NGX Consumer Goods Index gaining 0.6%. The NGX Main Board Index rose 0.54%, the Top 30 Index increased 0.11%, and the Industrial Index added 0.02%, though the Oil and Gas Index remained unchanged.
Despite a 0.64% weekly loss and a 4.36% four-week decline, the NGX has maintained a year-to-date gain of 35.43%, reflecting resilience amid economic challenges. This follows a N833 billion loss in a holiday-shortened week ending September 5, due to Eid el Maulud. Nigeria’s economic backdrop, with a 67.12% surge in capital importation to $5.64 billion in Q1 2025, supports investor confidence, though naira volatility (N1,560/$1) and 21.88% inflation in July remain concerns.
