The Nigerian Exchange resumed the new trading week on a positive note, gaining N263bn in market capitalisation as investors took positions in consumer goods and insurance stocks, particularly PZ Cussons Nigeria and University Press Plc.

At the close of transactions on Monday, the market capitalisation of listed equities rose to N88.2tn from N87.9tn recorded in the previous session, representing a growth of N263bn. Similarly, the benchmark All-Share Index advanced by 414.74 points, or 0.3 per cent, to close at 139,394.75 points.

The day’s trading showed a turnover of 947.83 million shares worth N17.96bn exchanged in 36,006 deals. This represented a 48 per cent decline in volume when compared with the previous trading day, but a 12 per cent improvement in turnover and a 46 per cent increase in the number of deals.

Market breadth closed on a positive note with 41 gainers against 18 losers. PZ Cussons Nigeria led the gainers’ chart, appreciating 10 per cent to close at N35.20 per share. It was followed by University Press Plc, which also gained 10 per cent to close at N5.50 per share. Ellah Lakes Plc rose 9.94 per cent to N14.27, while Legend Internet appreciated 9.90 per cent to N5.44 per share.

On the flip side, Nigerian Enamelware Plc led the losers’ table, shedding 10 per cent to close at N35.10 per share. Industrial and Medical Gases Nigeria Plc also lost 10 per cent to close at N33.30 per share, followed by Union Dicon Salt Plc and Thomas Wyatt Nigeria Plc, which both shed 10 per cent to close at N10.80 and N2.70 per share, respectively.

FCMB Group Plc emerged as the most traded stock by volume, accounting for 460.95 million shares valued at N4.73bn. Universal Insurance followed with 42.22 million shares worth N53.39m, while Royal Exchange traded 35.22 million shares valued at N72.49m.

Zenith Bank recorded 26.73 million units valued at N1.73bn.

In terms of value, FCMB also led the chart with trades worth N4.73bn, followed by Zenith Bank with N1.73bn, GTCO with N1.60bn, Dangote Sugar with N1.41bn, and Nestle Nigeria with N930.13m.

A breakdown of the sectoral performance showed that the NGX Insurance Index led with a gain of 3.16 per cent to close higher, followed by the NGX Consumer Goods Index, which advanced 0.6 per cent. The NGX Main Board Index rose 0.54 per cent, the NGX Top 30 Index inched up 0.11 per cent, and the NGX Industrial Index added 0.02 per cent. However, the NGX Oil and Gas Index closed flat.

Overall, the NGX posted a one-week loss of 0.64 per cent and a four-week loss of 4.36 per cent, but it has so far maintained a year-to-date gain of 35.43 per cent, reflecting sustained investor appetite in selected blue-chip stocks.

The PUNCH reported that the Nigerian Exchange closed the week ending Thursday on a negative note, as investors lost a total of N833bn in a holiday-shortened trading week. Trading on the Exchange was cut to four days following the Federal Government’s declaration of Friday, September 5, as a public holiday to mark the Eid el Maulud celebration.