Other stocks also experienced notable losses during the session. Trans-Nationwide Express dropped 8.47 percent, falling from N2.95 to N2.70. RT Briscoe declined by 6.07 percent to close at N10.05, while Wapic Insurance fell 6.03 percent to N2.18. Omatek Ventures rounded out the top five losers with a 4.73 percent drop, closing at N1.41 after trading at N1.48 the previous day.
On the positive side, several companies recorded strong gains. University Press Plc rose 9.89 percent to N5.00, while Critical Minerals Financing Corporation advanced 9.82 percent to N3.58. ABC Transport gained 9.80 percent to N5.60, Eterna climbed 9.62 percent to N42.75, and Sovereign Trust Insurance increased 9.17 percent to N2.62. These gains helped support the market’s upward trajectory despite Fortis Global Insurance’s steep decline.
Overall, the NGX saw increased trading activity on Monday, with investors exchanging 1.014 billion shares worth N39.02 billion across 61,517 deals. This compared to 708.85 million shares valued at N58.35 billion in 42,496 transactions the previous session. Market capitalisation also rose by approximately N299.36 billion, reaching N163.95 trillion from N163.66 trillion on Friday.
Fortis Global Insurance’s continued downward trend raises questions about investor confidence and potential underlying financial factors. As the company remains under scrutiny, market participants will closely monitor its future performance and any corporate announcements that may influence its stock trajectory.
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