Equities market gains 0.30% as investors snap up PZ Cussons, University Press, others

By Seun ibiyemi

Nigeria’s equities market began the new trading week on a bullish trend, advancing by 0.30 percent at the close of trading on Monday, as renewed buying interest in select stocks lifted overall performance.

The Nigerian Exchange Limited (NGX) All-Share Index (ASI) climbed to 139,394.75 points, while market capitalisation rose to N88.199 trillion.

The upturn was largely propelled by strong investor appetite for University Press, PZ Cussons, Ellah Lakes, Legend Internet, and NCR, which dominated the list of top gainers.

University Press appreciated by 10 percent from N5.00 to N5.50, while PZ Cussons also advanced 10 percent, adding N3.20 to close at N35.20.

Ellah Lakes gained 9.94 percent to settle at N14.27, Legend Internet appreciated 9.90 percent to N5.44, and NCR rose 9.84 percent to N13.95.

Heavy trading activity was also recorded in FCMB Group, Universal Insurance, Royal Exchange, Zenith Bank, and First Holdco. Altogether, 947.87 million shares worth N17.97 billion exchanged hands in 36,036 transactions.

Market analysts at CardinalStone stated that they expect to maintain their current portfolio strategy this week, while keeping close watch on the release of highly anticipated H1 2025 audited results and possible interim dividend declarations from banks.

“Portfolio adjustments will be made as necessary to keep positioning optimal,” the firm said.

In a separate notice, United Bank for Africa (UBA) Plc announced an extension of the acceptance period for its ongoing Rights Issue by two weeks. Initially scheduled to close on September 5, the offer will now run until September 19, following approval from the Securities and Exchange Commission (SEC).

According to the bank, the extension is intended to allow shareholders additional time to exercise their rights and take full part in the issue.