Nigerian Exchange Gains 0.97% on First Holdco, GTCO Rally
- The NGX started the week on a positive note as a second round of bargains from investors stopped fresh selling pressure,
- Buying interest in the banking sector pushed up the sector gain to 4.84% as insurance, consumed record losses
- Overall, transactions on the NGX showed an upward trend as the traded volume rose by 8.04% and value increased by 47.77%
Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
The Nigerian Exchange (NGX) Limited opened the week with a rebound of 0.97% on Monday, June 22, as bargain hunters aimed to cash in on the recent market decline.
The uptick in the market was supported by bargain demand for banking stocks, especially those of First Holdco, GTCO, and Zenith Bank, as investors rebalanced their portfolios and took new positions in perceived bargains.
Source: Getty Images
Snapshot of market performance
At the close of trade on Monday, the All-Share Index (ASI) gained 2,261.84 basis points from 235,941.27 to close at 238,203.11, and market capitalisation increased by N1.5 trillion from N152.835 trillion to N151.327 trillion on the same day.
The banking sector led the charge with a +4.84% surge, followed closely by industrial goods up +0.04%.
However, insurance indices depreciated by -1.43%, and consumer goods and energy sector indices declined by -0.40% and-0.06% respectively.
Although market breadth had a mix of good and bad tidings, with twenty-one stocks appreciating and thirty-seven declining, suggesting lingering cautious sentiment among some investors.
Five biggest gainers
- First Holdco Plc up 10.00% to N60.50.
- GTCO Plc up 10.00% to N127.10.
- International Energy Insurance Plc down -1.43% to N5.56
- Zenith Bank Plc up 7.09% to N117.80.
- NPF Microfinance Bank Plc down 5.12% to N5.20
Five biggest losers
- Zichis Plc shed -10.00% to N23.40.
- Consolidated Hallmark Holdings Plc down-9.94% to N6.43.
- Eterna Plc down-9.90% to N27.75.
- Deap Capital Management & Trust Plc down-9.82% to N4.41.
- Austin Laz Plc down-9.74% to N28.12.
Source: Getty Images
Traded Volume
- Fidelity Bank Plc 48.7million shares valued at N894.2 million.
- UBA Plc traded 42.3 million shares valued at N1.7 billion.
- Access Holdings Plc traded 39.3 million shares valued at N886.1 million.
- Zenith Bank Plc exchanged 30.0 million shares valued at N3.5 billion.
- MTN Nigeria Plc 20.8 million shares valued at N16.6 billion.
SEC transition to T+1 settlement cycle
Earlier, Legit.ng reported that the Securities and Exchange Commission (SEC) announced that Nigeria’s capital market will transition to a T+1 settlement cycle for equities and commodities cleared through the Central Securities Clearing System (CSCS).
Under the new arrangement, eligible transactions in the Nigerian capital market will be settled one business day after execution, replacing the current T+2 settlement cycle introduced on November 28, 2025.
The Commission said the move is part of broader reforms aimed at modernising the market and improving operational efficiency.
Source: Legit.ng
