The Nigerian equities market kicked off the trading week on a bullish note as sustained buying interest in medium- and large-cap stocks drove the total market capitalisation up by N443bn.
The All-Share Index gained 688.43 points, representing a 0.34 per cent growth to close at 204,458.86 points. Consequently, the total market capitalisation rose to N131.609tn, reflecting strengthened investor confidence despite broader macroeconomic headwinds.
Market sentiment remained positive as 31 advancers outpaced 24 decliners. The rally was largely anchored by gains in high-profile tickers, including Guinness Nigeria, Nigerian Exchange Group, Stanbic IBTC Holdings, Nigerian Breweries, and CWG.
The Nigerian Exchange Group emerged as the session’s top performer, recording a maximum price gain of 10 per cent to close at N153.45 per share. Trans-Nationwide Express followed closely with a 9.81 per cent jump to N4.14, while McNichols Consolidated climbed 9.74 per cent to end the day at N7.10.
Other notable gainers included VFD Group and Chams Holding Company, which rose 9.71 per cent and 8.96 per cent, respectively.
Conversely, the bears exerted pressure on select counters, led by Berger Paints, which shed 9.95 per cent to close at N68.35. Academy Press declined by 9.71 per cent to N7.90, while Caverton Offshore Support Group dipped 5.98 per cent. Honeywell Flour Mills and CAP also saw depreciations of 4.92 per cent and 3.81 per cent.
Trading activity showed a slight cooling in terms of participation, as total volume traded dipped 14.33 per cent to 470.008 million units, valued at N32.449bn. The banking sector dominated the activity chart, with Access Holdings leading the pack at 54.914 million shares, followed by GTCO and Zenith Bank.
Market experts at United Capital Plc noted that the market is likely to remain “selectively constructive” throughout the week. Analysts point to an ongoing rotation into high-quality, dividend-paying stocks as investors prioritise income and balance-sheet resilience.
However, the path forward remains nuanced. High bond yields and lingering inflation risks continue to compete for capital, suggesting that future gains may be concentrated in defensive, cash-generative names rather than across the entire index.
Blue-chip stocks such as Dangote Cement and Lafarge Africa ended Monday unchanged, indicating that despite the strong rally, investors remain cautious and selective in their bets.
