Strong Start as NGX Records 5% Turnover, 40% Jump in Deals as Capitalization Hits N128.7tn

Kenneth Afor
2 Min Read

The Nigerian Stock Exchange (NGX) recorded a total of 593,098,073 shares traded in 60,102 deals, with a market value of N25.6 billion on Monday, news.ng reports.

According to data, today’s market ended on a healthy note as key performance indicators, including turnover, surged by 5%, while deals increased by 40% compared to last Friday, as the Exchange’s capitalization hit N128.7 trillion.

The Exchange recorded 27 gainers and 34 losers out of the 133 equities listed for trading on Monday.

Among the top gainers, Austin Laz & Company led with a 9.98% gain to close at N4.41 per share, followed by Zichis Agro Allied Industries, whose share price gained 9.93% to close at N15.16 per share.

Other gainers include Trans-Nationwide Express, which rose by 9.65% to close at N2.84 per share, while The Initiates gained 9.6% to close at N21.70 per share.

On the other hand, Secure Electronic Technology recorded a 10% decline in share price to close at N1.17 per share. Leading drug maker May & Baker Nigeria followed with a 9.42% loss to close at N38.00 per share.

Others include Legend Internet, whose share price declined by 8.67% to close at N6.85 per share, while Cutix declined by 8.29% to close at N3.21 per share.

Meanwhile, in terms of trading volume, Access Holdings recorded the highest volume with 86.6 million shares, followed by First HoldCo with 84.6 million shares. Secure Electronic Technology recorded 31.1 million shares traded, while Fidelity Bank recorded 26.7 million shares traded.

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A graduate of Mass Communication from Yaba College of Technology with over four years in journalism (print and electronic) in several beats including business, politics, sports and entertainment.