The Nigerian Stock Exchange (NGX) kicked off the week with mixed signals as trading activity on Monday showed divergent trends across key market indicators.
Market data revealed that 519.9 million shares changed hands across 35,467 deals, generating a turnover of ₦14.54 billion by the close of the first weekday session.
The figures represent a tale of contrasting fortunes when compared to Friday’s trading session, with deal activity surging 31% even as trading volume and value softened.
The exchange witnessed a 5% decline in the number of shares traded and a more pronounced 26% drop in turnover value, suggesting investors may be adopting a cautious stance following the weekend break. However, the substantial uptick in the number of deals indicates sustained market participation despite the reduced volumes.
News.ng reports that Seplat Petroleum Development Company emerged as the session’s biggest winner, with its shares climbing 10% to close at ₦5,917.20. The energy giant’s strong performance was mirrored across other sectors, as AXA Mansard Insurance also posted a 10% gain, while Skye Shelter Fund and Ellah Lakes added 9.97% and 9.95% respectively.
Of the 128 listed equities that participated in Monday’s trading, 47 advanced while 24 declined, indicating positive market breadth that could signal underlying investor optimism.
International Energy Insurance bore the brunt of selling pressure, shedding 8.42% to close at ₦2.72 per share. McNichols, Thomas Wyatt Nigeria, and Berger Paints also featured among the day’s worst performers, declining 8.31%, 7.72%, and 6.8% respectively.
Ellah Lakes dominated trading activity by volume, with 80.1 million shares changing hands, significantly ahead of Chams (30.2 million), Sterling Bank (24.7 million), and Custodian & Allied (21.8 million).
The NGX’s overall market capitalization stood at ₦91.9 trillion at the close of trading, maintaining its position as one of Africa’s leading equity markets.
All eyes will be on the market to see whether Tuesday’s session can build on the positive momentum due to the increased deal activity, or if the volume and turnover declines signal a broader retreat in investor appetite.
