The Nigerian Exchange (NGX) closed on a positive note on Friday, with investors’ portfolios increasing by N30 billion, following the Securities and Exchange Commission’s (SEC) announcement of higher minimum capital requirements for capital market operators.
The bullish momentum was driven largely by strong performances in Red Star Express, NCR Nigeria and SCOA.
Consequently, total market capitalization rose from N106.323 trillion at the opening of trade to N106.353 trillion at the close. The All-Share Index also recorded a marginal gain of 0.04 percent, advancing by 72.21 points to end the session at 166,129.50, compared with 166,057.29 on Thursday.
Market sentiment remained positive, as the exchange recorded 43 gainers against 26 decliners.
Red Star Express led the gainers’ table after rising by 10 percent to N13.20 per share. NCR Nigeria followed closely with a 9.97 percent appreciation to N128.55, while SCOA climbed by 9.96 percent to close at N14.90. Omatek Ventures advanced by 9.94 percent to N1.77, while Deap Capital Management gained 9.85 percent to finish at N4.46 per share.
On the downside, McNicholas topped the losers’ chart after shedding 8.81 percent to close at N6. Legend Internet declined by 7.56 percent to N5.50, while Cornerstone Insurance dropped by 6.48 percent to N6.35. Cileasing fell by 6.29 percent to N8.20, and Austinlaz lost 5.78 percent to close at N3.75 per share.
Despite the market’s positive close, trading activity slowed during the session. Investors exchanged a total of 539.9 million shares valued at N16.7 billion in 48,023 deals, lower than the 1.03 billion shares worth N31.6 billion traded in 51,227 transactions on Thursday.
Zenith Bank emerged as the most actively traded stock, accounting for 54.55 million shares valued at N3.79 billion. This represented 10.10 percent of total market volume and 22.68 percent of total value traded.
The market reaction followed the SEC’s announcement on Friday introducing new minimum capital thresholds for capital market operators, with June 30, 2027, set as the deadline for compliance.
