The Nigerian Exchange Limited (NGX) wrapped up Thursday’s trading on a mixed note, with market activity dropping sharply despite upbeat sentiment in certain sectors, especially insurance stocks.
Market capitalisation ended at ₦161.7 trillion.
At the close of trading, investors exchanged a total of 1.04 billion shares valued at ₦41.54 billion in 74,677 deals. Compared with the previous trading session on Wednesday, May 13, trading volume declined by 34 per cent, while turnover fell sharply by 55 per cent. The total number of deals also dropped marginally by 2 per cent.
Overall market breadth remained positive as 37 stocks recorded gains against 30 losers out of the 133 equities that participated in trading.
Red Star Express Plc emerged as the top gainer after its share price appreciated by 18.59 per cent to close at ₦31.90 per share. Other notable gainers included Cornerstone Insurance Plc, which gained 11.11 per cent; Austin Laz & Company Plc, with a 10.54 per cent increase; and Learn Africa Plc, which advanced by 10 per cent.
On the losers’ chart, Zichis Agro Allied Industries Ltd recorded the steepest decline, shedding 10.09 per cent to close at ₦32.69 per share. Other laggards included FTN Cocoa Processors Plc, which declined by 9.87 per cent; Meyer Plc, with a 9.83 per cent loss, and RT Briscoe Plc, which fell by 9.41 per cent.
In terms of trading volume, Chams Holding Company Plc led activity with 128 million shares traded, followed by VFD Group Plc with 107 million shares. First HoldCo Plc with 75.6 million shares, and Access Holdings Plc with 50.3 million shares exchanged.
Meanwhile, the insurance segment of the equities market closed in positive territory, advancing by 0.46 per cent amid renewed investor appetite for low-priced and mid-tier insurance stocks.
Trading activity within the sector remained robust, with more than 166.5 million shares traded across 3,828 deals, positioning insurance as one of the most active segments in the financial services sector during the session.
Analysts attributed the sector’s positive performance largely to liquidity-driven buying as investors rotated into penny insurance stocks and selected underwriters ahead of possible earnings re-rating, recapitalisation expectations and dividend positioning.
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