The Nigerian stock market opened the week on a positive note, with investors gaining N369 billion and performance indices rising by 0.56 per cent on Monday, March 24, 2025.
The Nigerian Exchange Limited (NGX) market capitalisation increased by 0.56 per cent to N66.188 trillion from an opening of N65.819 trillion recorded on Friday.
The All-Share Index also rose by 0.56 per cent, or 588.43 points, to close at 105,551.39, up from 104,962.96 posted on Friday.
The surge in the stock market capitalisation was due to the United Bank for Africa’s announcement of N3 as dividend payment to shareholders, thereby boosting investor confidence in the banking sector of the market.
The market breadth closed positive, with 25 gainers and 22 losers.
On the gainers’ chart, Royal Exchange soared by 10 per cent to close at 88k, while Livestock Feeds gained by 9.87 per cent to close at N9.24 per share.
Abbey Mortgage Bank increased by 9.72 per cent, to close at N3.95, and Universal Insurance soared by 9.62 per cent to close at 57k per share.
UBA posts N3.19trn gross earnings, N803.72bn profit in 2024
Similarly, Sunu Assurance gained by 9.22 per cent to close at N5.45 per share.
On the losers’ chart, Nem Insurance lost by 9.63 per cent to close at N12.20, while United Capital declined by 9.29 per cent to close at N16.60 per share.
Computer Warehouse Group fell by 6.67 per cent to close at N8.40, and DAAR Communications lost by 6.06 per cent to close at 62k per share.
Africa Prudential also fell by 5.56 per cent to close at N15.30 per share.
A total of 440.52 million shares, worth N10.470 billion, were exchanged across 13,314 transactions.
This is compared with 397.208 million shares, valued at N14.170 billion, exchanged across 10,099 transactions last Friday.
Transactions in Zenith Bank shares topped the activity chart with 55.062 million shares valued at N2.605 billion.
First City Monument Bank followed with 49.59 million shares worth N449.09 million, while the United Bank for Africa (UBA) sold 47.39 million shares valued at N1.835 billion.
Access Corporation traded 37.24 million shares worth N834.092 million, and Fidelity Bank transacted 31.298 million shares valued at N563.89 million.
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