Investors reap N10bn profit as equities market strengthens on NGX

Onome Amuge

Nigerian investors enjoyed a bullish start to the trading week, with the Nigerian Exchange Group (NGX) market capitalisation rising by N10 billion on Monday, January 20, 2025.

The investment boost was underpinned by notable price gains in stocks such as Caverton Offshore Support Group Plc (CAVERTON), Wapic Insurance Plc (WAPIC), and SCOA Nigeria Plc (SCOA), among others, as investor sentiment improved on the market floor.

The equity market capitalisation  was up N62.861 trillion from the N62.851 trillion recorded on Friday.

On a similar trajectory, the benchmark All-Share Index (ASI) jumped to 102370.62 points from its previous level of 102,353.68 points, buoyed by the 31 stocks that recorded gains, which outpaced the 26 stocks that declined in 11, 477 deals.

The market breadth also posted a positive outcome as 31 stocks advanced, 26 stocks declined, and 65 stocks remained unchanged in 11,477 deals.

CAVERTON, WAPIC, and SCOA  emerged top gainers with 10 percent, 9.91 percent and 9.68 percent appreciation respectively in prices to close at N2.42, N2.44 and N2.72 from the previous N2.20, N2.22 and N2.48 per share.

On the other end, EUNISELL, JOHNHOLT, and NSLTECH led other price decliners with 9.99 percent, 9.63 percent, and 8.99 percent decline each in share prices to close at N14.06, N9.20 and N0.81 from the previous N15.62, N10.18 and N0.89 per share.

On the volume index, UNIVINSURE led trading with 31 million shares in 230 deals followed by AICCO which traded 22 million shares in 258 deals, while OANDO traded 19 million shares in 1,351 deals.

OANDO Plc topped the value index with a whopping N1.4 billion worth of shares traded in 1,351 deals.

ZENITHBANK Plc also made notable contributions to the day’s trading volume, with N925 million worth of securities traded in 533 deals. ARADEL Plc emerged as another major contributor to the market’s value index, trading shares valued at N865 million in 418 deals.