Investors gain N1.4trn as Dangote, Aradel boost NGX rally
By Peter Egwuatu
Nigerian Exchange Sees N1.4 Trillion Gain on Strong Investor Sentiment
Equity investors on the Nigerian Exchange (NGX) experienced a significant surge of N1.4 trillion on Monday, driven by notable performances from companies such as Dangote Cement, Aradel Holdings, and UBA.
The market opened the week positively, with the NGX All-Share Index (ASI) and market capitalization both increasing by 1.29%. This follows a robust week in which market capitalization also rose by over N4 trillion.
Stockbrokers reported continued positive trading sentiment among investors, particularly in mid-cap and blue-chip stocks, including Dangote Cement, Aradel, Transcorp, FCMB, and Dangote Sugar.
The industrial sector saw notable gains, rising 4.76% and contributing 2,218.73 basis points to the market index, which closed at 173,946.22. The overall market capitalization reached N111.66 trillion, reflecting a growth of 1.29%.
Despite the positive performance, trading activity declined, with total volume of trades down 18.72% and total transaction value decreasing by 35.21%. Analysts noted that approximately 775.18 million units valued at N27.92 billion were exchanged across 65,960 transactions.
Accesscorp led the trading volume, comprising 8.70% of total trades, followed by Zenith Bank at 5.99%, NSLTECH at 5.69%, VERITASKAP at 5.10%, and MBENEFIT at 4.39%. Zenith Bank also accounted for 12.34% of the total value of trades executed, making it the most traded stock on the exchange.
Among the day’s top performers were CAP, May & Baker, and Daar Communication, each registering a gain of 10%. They were closely followed by RT Briscoe at 9.98%, Deap Capital at 9.97%, and NAHCO, Zichis, and Union Dicon, all nearing the same growth margin.
The overall market activity reflects a dynamic environment as investors continue to engage strategically in the Nigerian Exchange.
