The Nigerian Exchange Limited (NGX) began the week on a bullish note as renewed investor interest in insurance and industrial stocks pushed the market capitalization higher by ₦465 billion on Monday.
At the close of trading, the market capitalization rose to ₦93.8 trillion, up from ₦93.35 trillion recorded on Friday, while the All-Share Index (ASI) advanced by 729.17 points, or 0.5 per cent, to settle at 147,717.21 points.
Market analysts attributed the positive performance to sustained investor confidence and increased positioning in defensive stocks ahead of third-quarter earnings reports.
Insurance, Industrial Stocks Lead Gains
The day’s uptrend was largely driven by price appreciation in key equities, including Sovereign Trust Insurance, Transcorp Power, Consolidated Hallmark Holdings, Haldane McCall, Custodian Investment, and Stanbic IBTC Holdings.
Sovereign Trust Insurance topped the gainers’ chart, rising 9.97 per cent to close at ₦3.53 per share, while Transcorp Power followed with an 8.92 per cent increase to ₦342 per share.
Similarly, Consolidated Hallmark Holdings appreciated by 7.14 per cent to close at ₦4.50, and Haldane McCall advanced by 6.8 per cent to ₦4.40 per share.
On the flip side, Regency Alliance Insurance led the losers’ chart with a 17.58 per cent decline, closing at ₦1.36 per share. Triple Gee & Co. dropped 9.92 per cent to ₦5.45, while Wema Bank and LivingTrust Mortgage Bank shed 4.51 per cent and 3.85 per cent to close at ₦19.05 and ₦5.00 per share, respectively.
Market activity showed significant improvement across all indicators. A total of 624.58 million shares valued at ₦13.47 billion were exchanged in 31,531 deals, representing a 62 per cent increase in volume, 29 per cent rise in turnover, and 45 per cent jump in deals compared with the previous session.
Consolidated Hallmark Holdings emerged as the most traded stock by volume with 210.46 million shares worth ₦909.65 million, followed by Fidelity Bank, which recorded 47.47 million shares valued at ₦951.82 million. Chams also traded actively with 43.96 million shares valued at ₦191.63 million.
In terms of trade value, MTN Nigeria led with ₦2.62 billion, followed by Zenith Bank (₦1.44 billion), GTCO (₦1.04 billion), Fidelity Bank (₦951.82 million), and Consolidated Hallmark Holdings (₦909.65 million).
Across sectoral indices, the Insurance Index led the rally with a 2.11 per cent gain, followed by the Industrial Index, which rose 0.66 per cent. The Premium Index and Consumer Goods Index also advanced by 0.5 per cent and 0.23 per cent, respectively.
Overall, the NGX maintained a bullish momentum, recording a one-week gain of two per cent, a four-week gain of 5.1 per cent, and a year-to-date return of 43.52 per cent.
Market analysts said the positive sentiment reflects renewed investor optimism, fuelled by anticipation of strong third-quarter corporate earnings and growing appetite for insurance and industrial equities seen as safer investment options amid market volatility.
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