NGX Market Report: Trading Activity Sees Volume Increase but Turnover Declines

The overall market capitalization of NGX remains strong at NGN 62.9 trillion, reflecting the cumulative value of all listed companies.

Gainers and Losers: Key Stock Movements

Out of 126 actively traded stocks, the market saw 32 gainers and 26 decliners, with the rest remaining unchanged.

Top Gainers:

• Caverton Offshore Support Group led the pack, gaining 10%, closing at NGN 2.42 per share.

• Wapic Insurance followed closely with a 9.91% increase.

• SCOA Nigeria appreciated by 9.68%, while UPDC gained 9.52%.

Top Losers:

• Eunisell Interlinked suffered the biggest loss, declining 9.99% to close at NGN 14.06 per share.

• John Holt dropped by 9.63%, while Secure Electronic Technology lost 8.99%.

• Honeywell Flour Mill declined 7.58%, adding to the downward pressure on the market.

Most Traded Stocks by Volume

• Universal Insurance Company led in trading volume with 31.3 million shares exchanged.

• Aiico Insurance followed with 22.1 million shares, maintaining strong investor interest.

• Oando recorded a volume of 19.8 million shares, while Zenith Bank trailed closely with 19.7 million shares.

Market Outlook

The start of the trading week showed mixed performance, with increased trading volume and deal activity but a sharp decline in market turnover. This suggests that investors were actively trading, though focusing more on lower-priced stocks. The market remains robust, with NGN 62.9 trillion in capitalization, and investor sentiment will likely depend on upcoming earnings reports and macroeconomic trends.

Investors are advised to monitor key sectors and stock performance while considering risk management strategies before making investment decisions.