The Nigerian Exchange (NGX) commenced the week on a positive trajectory, recording a N36 billion gain, largely propelled by gains in Eterna, Okomu Oil Palm, Oando, and others. The All-Share Index and market capitalisation saw modest increases of 0.07 per cent, closing at 96,037.28 points and N55.2 trillion, respectively, with the year-to-date return improving to 28.35 per cent.
Trading activity involved 122 listed equities, out of which 28 advanced while 18 declined. Eterna led the gainers, surging by 10 per cent to close at N23.10, followed closely by Okomu Oil Palm with a 9.99 per cent rise, ending the day at N379.80. RT Briscoe climbed 9.96 per cent to N2.98, while Oando saw a 9.93 per cent increase, closing at N52.60.
Conversely, Transcorp Power faced the most significant decline, dropping 9.99 per cent to close at N335.20. Abbey Mortgage Bank fell by 9.69 per cent to N2.33, with United Capital and University Press also seeing decreases of 8.35 per cent and 5.51 per cent, closing at N18.10 and N2.40, respectively.
The equity market witnessed a turnover of N3.88 billion as 390.51 million shares changed hands across 9,242 deals. Despite a 16 per cent decline in turnover compared to the previous trading day, there was a notable 19 per cent increase in volume and a 26 per cent rise in the number of deals.
In terms of trading volume, Veritas Kapital Assurance led with 67.3 million shares exchanged, followed by Japaul Gold and Ventures with 23.9 million shares, FCMB Group with 20.5 million shares, and Prestige Assurance Company with 20.2 million shares.
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The NGX faced challenges the previous week, with the market experiencing an N815 billion loss amid bearish trading, particularly on Monday and Thursday. The All-Share Index dipped by 1.16 per cent, while market capitalisation slipped slightly by 0.004 per cent, closing the week at 95,973.45 points and N55.13 trillion. During the week, investors traded 5.64 billion shares worth N33.05 billion across 42,006 deals, in contrast to the preceding week’s 2.03 billion shares valued at N42.155 billion in 45,157 deals.
