The Nigerian Exchange Limited opened the new trading week on a positive note on Monday as strong buying interest across key stocks lifted total market capitalisation by N745bn, reflecting improved investor sentiment in the equities market.
At the close of trading, the equities market capitalisation rose to N104.52tn from N103.78tn recorded at the previous session, while the All-Share Index advanced by 946.61 points, or 0.58 per cent, to close at 163,244.69 points from 162,298.08 points.
Market activity also improved markedly. A total of 1.15bn shares valued at N19.21bn were traded in 59,326 deals, representing an increase of 84 per cent in volume, a four per cent rise in turnover and a 35 per cent improvement in the number of deals compared with the preceding trading day.
Trading was broadly positive, with 128 listed equities participating in the session. Forty-nine stocks closed higher, while twenty equities ended the day lower, underscoring a bullish undertone in the market.
On the gainers’ table, E-Tranzact International topped the list after its share price appreciated by 10 per cent to close at N16.50. Red Star Express also gained 10 per cent to settle at N11.55, while McNichols rose by 10 per cent to close at N6.05. UPDC advanced by 10 per cent to N5.50, RT Briscoe added 10 per cent to close at N3.96, and Deap Capital Management and Trust appreciated by 10 per cent to end the session at N3.30 per share.
Conversely, trading closed on a weaker note for some stocks, led by Champion Breweries, which recorded the highest decline, shedding 8.51 per cent to close at N15.05 per share. Eunisell Interlinked followed with a loss of 8.01 per cent to close at N156.20, while Ikeja Hotel declined by eight per cent to settle at N36.80. Guinea Insurance dropped by 7.30 per cent to N1.27, Omatek Ventures fell by 3.12 per cent to close at N1.24, and Lasaco Assurance declined by 2.99 per cent to end the session at N2.60 per share.
In terms of trading activity, Sovereign Trust Insurance recorded the highest volume of shares traded, with over 307m units exchanging hands. Fidelity Bank followed with approximately 158 million shares, while Linkage Assurance and Mutual Benefits Assurance also featured prominently among the most actively traded stocks.
By value, Fidelity Bank led transactions with shares worth N3.14bn traded during the session. Aradel Holdings, Zenith Bank, Eunisell Interlinked and Sovereign Trust Insurance also recorded significant value turnover, contributing to overall market liquidity.
Analysts attributed the market’s positive performance to renewed bargain hunting in select stocks, particularly in the banking and insurance sectors, as well as improved confidence following recent gains in market capitalisation above the N100tn mark.
They noted that sustained buying interest, supported by expectations of full-year corporate earnings and portfolio rebalancing by investors, could help maintain the upward momentum in the near term, although intermittent profit-taking is likely to remain.
The NGX’s strong start to the week reinforces its position as one of the best-performing markets in the region, with market capitalisation firmly above N104tn, signalling continued resilience in Nigeria’s equities market despite prevailing macroeconomic challenges.
