J’Berger, Cutix top gainers as market cap surges N285bn

The Nigerian Exchange (NGX) opened the week on a strong footing, as equities recorded a market value gain of N285bn on Monday, buoyed by robust performances from Julius Berger Nigeria, Cutix, and key insurance stocks.

At the close of trading, the All-Share Index (ASI) advanced by 435.61 points, or 0.31 per cent, to settle at 141,439.75 points. This positive movement lifted the market capitalisation to N89.5tn, signaling improved investor sentiment after a week of volatility that saw losses across the bourse.

Trading Highlights

A total of 589.73m shares worth N11.22bn were exchanged across 33,304 deals. While this reflected a 23 per cent drop in volume and a 56 per cent decline in turnover compared with the previous session, the 29 per cent increase in the number of deals pointed to renewed investor activity across different counters.

Gainers’ Chart

The session closed with a strong market breadth of 40 gainers against 17 losers.

• Julius Berger Nigeria led the rally, appreciating by 9.93 per cent to close at N146.10 per share.

• Cutix followed with a 9.86 per cent rise to N3.90.

• Regency Alliance Insurance advanced 9.70 per cent to N1.47, while Veritas Kapital Assurance climbed 9.60 per cent to N2.17.

• McNichols gained 9.37 per cent to settle at N3.50, and NEM Insurance rose 8.83 per cent to close at N28.95.

Losers’ Chart

On the other hand, University Press topped the laggards with a 12.06 per cent decline to N5.54 per share.

• Cadbury Nigeria fell 9.61 per cent to N57.85.

• Abbey Mortgage Bank shed 8.39 per cent to N6.55, while Daar Communications slipped 7.44 per cent to N1.12.

• Austin Laz dropped 6.55 per cent to N2.71, and Mecure Industries lost 6.02 per cent to close at N19.50.

Activity Chart

• FCMB Group led trading activity with 105.1m shares valued at N1.14bn exchanged in 1,144 deals.

• Veritas Kapital Assurance followed with 59.6m shares worth N128.8m.

• Universal Insurance traded 34.4m units at N45.2m, while Aiico Insurance exchanged 26.2m shares valued at N111.9m.

• GTCO was the most traded stock by value, with 25m shares worth N2.39bn. Other value leaders included Aradel Holdings (N1.35bn), Zenith Bank (N709.4m), and UBA (N683.6m).

Sector Performance

Performance across indices was mixed:

• The Insurance Index led with a 3.81 per cent gain, driven by strong showings from Regency Alliance, Veritas Kapital, and NEM Insurance.

• The Banking Index rose 1.12 per cent, supported by FCMB, UBA, and Zenith Bank.

• The NGX Pension Index advanced 0.49 per cent, the Main Board Index gained 0.43 per cent, while the Consumer Goods Index edged up 0.29 per cent.

• Meanwhile, the Top 30 Index posted a modest 0.25 per cent increase.

Market Outlook

Despite the rebound, analysts noted that the NGX still recorded a one-week decline of 2.27 per cent. However, the market maintained a four-week gain of 4.64 per cent and a solid year-to-date return of 37.42 per cent, highlighting continued investor appetite for equities in the face of macroeconomic challenges.