The Nigerian stock market reversed a recent downward trend on Monday, fueled by renewed investor interest in financial sector stocks. The local bourse, which closed lower last week due to profit-taking, experienced buying momentum in the opening hours of trading.
Data analysis from the Nigerian Exchange (NGX) showed re-entry by investors purchasing shares at more attractive valuations, alongside surges in key banking equities ahead of their upcoming earnings disclosures.
By midday, the NGX All Share Index rose by 0.11%, signaling a shift toward positive market sentiment, according to a note from Alpha Morgan Capital Limited. Stockbrokers attributed this uptick to increased demand for mid-cap and large-cap stocks.
Leading intraday gainers included JBERGER with a 9.93% increase, AIICO (+3.83%), INTBREW (+2.69%), GTCO (+2.13%), and STERLINGNG (+0.66%). Additional advances were seen in ACCESSCORP (+0.56%), FIDELITYBK (+0.48%), MANSARD (+0.18%), UBA (+0.10%), and TRANSCORP (+0.10%), among others.
These movements suggest investor optimism returning after last week’s profit-taking phase, with attention focused on imminent financial reports expected to influence market direction.
