The Nigerian Exchange (NGX) witnessed a downward trend on Monday as market capitalisation settled at N160.85 trillion, while the All-Share Index declined to 247,736.24 points. Trading data revealed that the index fluctuated between a high of 250,273.50 points and a low of 247,736.24 points during the preceding weekly period, averaging 248,902.51 points.
Market Performance and Trading Activity
Investors exchanged 405.36 million shares across 52,891 deals during the session, according to Punch reports. Access Holdings and Zenith Bank emerged as the most actively traded stocks, with a combined 61.26 million shares valued at approximately N4.59 billion.
The market's downturn was driven by notable losses among several key stocks, including Sunu Assurances, Consolidated Hallmark Financial Services, and Oando, which were among the top losers for the day.
Top Gainers and Losers on NGX
FGSUK2031S4 led the gainers, rising from N78.03 to N98.93, a gain of N20.89 or 26.77 percent. UPDC Real Estate Investment Trust advanced by 10.00 percent from N24.00 to N26.40, while Neimeth International Pharmaceuticals gained 10.00 percent, moving from N7.00 to N7.70.
Guinness Nigeria climbed from N384.80 to N423.00, adding N38.20 or 9.93 percent, and Livestock Feeds rose from N13.15 to N14.45, gaining N1.30 or 9.89 percent.
On the losing side, Sunu Assurances fell from N3.25 to N2.93, losing N0.32 or 9.85 percent. Consolidated Hallmark Financial Services dropped from N3.58 to N3.23, shedding N0.35 or 9.78 percent. Oando declined from N36.40 to N33.65, losing N2.75 or 7.55 percent.
LivingTrust Mortgage Bank fell from N3.20 to N3.00, shedding N0.20 or 6.25 percent, while Zichis Agro Allied Industries dropped from N17.05 to N16.00, losing N1.05 or 6.16 percent.
Most Active Stocks and Investor Activity
Access Holdings led trading volumes with 33.28 million shares valued at N956.0 million. Zenith Bank followed with 27.98 million shares worth N3.63 billion. Jaiz Bank traded 27.61 million shares valued at N211.39 million, while Regency Alliance Insurance recorded 27.15 million shares worth N22.66 million. FCMB Group exchanged 26.22 million shares valued at N288.54 million.
The overall trading activity reflected a cautious market sentiment, with investors closely monitoring price movements across major sectors.
Dangote IPO Extension and Market Outlook
In related developments, Dangote Group extended the deadline for investors to apply for shares in Dangote Petroleum Refinery and Petrochemicals by two weeks. The initial public offering, which opened on September 14, is expected to become Africa's largest share sale. The extension follows strong investor interest across Africa and aims to broaden access to the offer.
The NGX's performance on Monday underscores ongoing volatility in Nigerian equities, as investors weigh corporate earnings and macroeconomic factors. Market participants will likely watch for further trading sessions to gauge the direction of the All-Share Index and capitalisation levels.
