Royal Exchange Plc surged 10.00 percent to the daily price limit on the Nigerian Exchange (NGX) on Monday, emerging as one of the top-performing stocks in a session marked by renewed buying interest in select equities. The insurer’s share price jumped from N0.90 to N0.99, matching NGX Group Plc at the top of the gainers’ chart and signaling a sharp recovery from its recent underperformance. This strong rebound followed a challenging week when Royal Exchange was among the biggest losers on the bourse, underscoring shifting investor sentiment toward insurance and financial sector stocks.
The market-wide performance also turned positive, with the NGX All-Share Index (ASI) closing up 0.10 percent at 243,299.24 points. Equity market capitalisation rose by approximately N160.26 billion to reach N157.747 trillion, reflecting overall confidence despite mixed trading activity. Investors traded 428.97 million shares worth N20.52 billion across 54,592 deals, showing that while volume and value dipped slightly from the previous session, deal count increased, indicating sustained participation.
Other notable gainers included R.T. Briscoe Plc, which rose 9.88 percent to N8.90 from N8.10, and NSLTech Plc, which gained 7.69 percent to N0.70 from N0.65. Prestige Assurance Plc also climbed 7.19 percent to N1.49 from N1.39. These movements highlight growing investor appetite for specific financial and technology-related stocks amid broader market caution.
On the downside, John Holt Plc led the decliners with a 10.00 percent drop, while Ellah Lakes Plc, DAAR Communications Plc, Regal Insurance Plc, and Learn Africa Plc also recorded significant losses. Profit-taking remained evident in certain sectors, suggesting that while momentum is returning in some areas, not all investors are fully re-engaging.
Royal Exchange’s surge to the daily price limit marks a pivotal moment for the stock, demonstrating resilience and attracting renewed attention from traders. As investors continue to reposition following last week’s broad-based selloff, selective buying in insurance and financial equities could signal a potential shift in market dynamics. This performance may encourage further interest in similar stocks as market participants look for growth opportunities in a cautiously optimistic environment.
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