.Zenith Bank records highest value with N5.96 bn
.Bank set to open Manchester branch to boost UK–Africa trade
The Nigerian stock market recorded a major milestone on Monday as the NGX All-Share Index crossed the 201,000-point mark for the first time.
The benchmark index rose by 1.55 per cent to close at 201,474.89 points, up from 198,407.30 points recorded in the previous trading session.
Similarly, the market capitalisation rose to N129.329 trillion, from N127.360 trillion previously, representing a gain of about N1.97 trillion for investors.
This was driven by strong investor demand and widespread gains across key sectors.
With the rally, the market’s month-to-date (MTD) return climbed to 4.48 per cent, while the year-to-date (YTD) return advanced to 29.47 per cent, reflecting sustained bullish momentum in the equities market.
Market sentiment remained positive, with 38 stocks closing higher compared to 30 decliners, indicating broad-based buying interest across the market.
BUA Cement led the gainers’ chart by 10 per cent, ending the session at N297, Premier Paints trailed by 9.79 per cent, settling at N21.30 while John Holt gained by 9.52 per cent, closing at N10.35 per share.
Guinea Insurance increased by 9.38 per cent, finishing at N1.40 and Fortis Global Insurance added by 9.32 per cent, closing at N1.29 per share.
On the flip side, VFD Group led the losers’ chart by 10 per cent, finishing at N11.25.
Royal Exchange followed by 9.63 per cent, settling at N1.69 and Omatek Ventures dropped by 9.62 per cent, ending the session at N2.35 per share.
Sovereign Trust Insurance fell by nine per cent, closing at N1.92 while Regency Alliance shed by 8.94 per cent, settling at N1.12 per share.
Trading activity remained robust, with total deals rising to 72,735 while investors exchanged 948.2 million shares valued at N49.17 billion.
Financial services stocks dominated transactions by volume, reflecting heightened investor interest in the sector.
Sovereign Trust Insurance recorded the highest volume with 72.56 million traded shares, accounting for 7.65 per cent of the volume traded for the day.
Zenith Bank recorded the highest value with N5.96 billion, accounting for 12.11 per cent of the day’s total value.
Reacting, Mr Temi Popoola, Group Chief Executive Officer of Nigerian Exchange Group, described the milestone as a sign of growing confidence in Nigeria’s capital market.
“Nigeria’s ongoing reforms are strengthening domestic capital formation, and the market is responding positively.
“Increased participation by local investors, improving corporate fundamentals, and continued market modernisation are reinforcing the role of the capital market as a catalyst for long-term wealth creation and sustainable economic growth.”
Also, Mr Jude Chiemeka, Chief Executive Officer of Nigerian Exchange Ltd., attributed the milestone to sustained demand and active participation across the market.
“Crossing the 200,000-point mark reflects strong investor engagement and consistent demand across key sectors.
“At the Nigerian Exchange Ltd., we remain focused on deepening market liquidity, enhancing trading infrastructure, and ensuring efficient price discovery to support a resilient and transparent marketplace”, he stated.
The latest milestone highlights the sustained momentum in Nigeria’s equities market, which continues to attract growing interest from both domestic and institutional investors.
Meanwhile, Zenith Bank Plc says it will open a new branch in Manchester, United Kingdom, to strengthen trade and financial links between Africa and global markets.
The bank in a statement on Monday said the branch, scheduled for inauguration on Tuesday, would support businesses involved in international trade and investment across the UK, Europe and Africa.
It added that the facility would offer corporate banking, trade finance, treasury services and other financial solutions to clients operating in the regions.
The bank said the Manchester branch would strengthen its global network and support its vision of building a global African banking institution connecting businesses and markets.
The Group Managing Director/Chief Executive Officer of the bank, Adaora Umeoji, said the expansion reflected the bank’s strategy to connect African businesses with global opportunities.
Umeoji said Manchester’s status as a major commercial hub made it an ideal location for strengthening financial and investment ties between the UK and Africa.
She noted that the branch would work closely with the bank’s operations in London to support clients seeking to expand across markets.
According to her, the development represents another milestone in Zenith Bank’s international growth and commitment to facilitating trade and investment flows involving Africa.
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