The Nigerian equities market commenced the week on a positive note, gaining N173bn in market capitalisation as investors showed renewed interest in select large- and mid-cap stocks across key sectors.

Data from the Nigerian Exchange Limited on Monday showed that the All-Share Index appreciated by 284.25 points, or 0.25 per cent, to close at 112,026.26, up from 111,742.01 posted on Friday. Consequently, the market capitalisation rose from N70.43 tn to N70.6 tn.

Despite the upturn in the market indices, trading activity witnessed a decline. A total of 517.95 million shares valued at N10.07bn were exchanged in 17,019 deals. This reflects a 73 per cent drop in volume, an 84 per cent drop in value, and a nine per cent decline in the number of deals compared to the previous trading session.

The market breadth closed negative with 23 gainers and 36 losers out of the 127 equities traded during the session.

Multiverse Mining and Exploration led the gainers’ chart with a 9.87 per cent increase in its share price to close at N8.35 per share. It was followed by Livestock Feeds, which gained 9.57 per cent to settle at N10.30; Lasaco Assurance rose by 8.11 per cent to N2.80; Neimeth International Pharmaceuticals advanced by 8.06 per cent to N3.35, while Royal Exchange and Wapic Insurance appreciated by 7.50 per cent and 6.50 per cent to close at N0.86 and N2.13, respectively.

On the losers’ side, Legend Internet topped the chart with a 9.90 per cent decline to close at N5.55 per share.

 It was trailed by Secure Electronic Technology, which shed 9.84 per cent to close at N0.55, while E-Tranzact International dipped by 9.56 per cent to ₦6.15. University Press also lost 9.32 per cent to N5.35, followed by McNichols (-7.31%) and Cutix (-6.73%).

In terms of volume, Fidelity Bank led with 98.8 million shares traded, followed by Royal Exchange (58.4 million), Access Holdings (55.2 million), and Cutix (32.3 million).

Sectoral performance was mixed. The NGX Premium Index gained 0.88 per cent, and the Insurance Index advanced by 0.85 per cent, while the Oil and Gas Index and the Industrial Index recorded marginal losses of 0.24 per cent and 0.02 per cent, respectively. The Pension Index rose by 0.2 per cent, reflecting growing investor confidence in pension-backed assets.

The year-to-date return of the ASI now stands at 8.84 per cent, reflecting resilience in the face of recent market corrections.

The PUNCH reported that the Nigerian Exchange closed the trading week on a bullish note, as investor sentiment turned positive, resulting in a surge of N1.71tn in market capitalisation.