NGX Gains N1.7tn Amid Banking and Oil & Gas Rally

The Nigerian Exchange Group (NGX) reported a gain of N1.7 trillion, attributed to rallies in the banking and oil & gas sectors. The share index increased to 195,514.23 points, up from 192,826.78 points recorded on Friday, with market capitalization climbing to N125.49 trillion from N123.76 trillion in the previous session.

Trading volume decreased by 4.12% to 789.9 million units, while total value traded improved by 0.94% to N35.08 billion. Zenith Bank PLC rose to N91.95, Guaranty Trust Holding Company PLC appreciated to N117.95, and Wema Bank PLC gained 3.52% to close at N27.95.

However, Access Holdings PLC and United Bank for Africa PLC recorded losses. The NGX Insurance Index fell, but select insurance stocks like Sovereign Trust Insurance PLC and FTG Insurance saw gains.

The NGX Consumer Goods Index strengthened, with PZ Cussons Nigeria PLC jumping 9.72%. The NGX Oil & Gas Index rose sharply, with Aradel Holdings PLC surging 9.99%.

Overall, the market breadth was positive, reflecting strong investor interest in the financial services and energy sectors.