The Nigerian Exchange (NGX) began the week on a bullish note as the All-Share Index (ASI) advanced by 0.30% on Monday, resulting in a gain of over ₦262 billion in investors’ portfolio value.
The market’s positive performance was largely driven by renewed bargain hunting in previously oversold medium and large-cap stocks across key sectors. Analysts noted that investors returned from the holiday period with strong interest in equities such as PZ, ELLAHLAKES, AIICO, TRANSPOWER, and DANGSUGAR.
At the close of trading, the ASI added 414.74 points to settle at 139,394.75. Market capitalisation followed the same trajectory, climbing to ₦88.20 trillion. Despite the gains, activity on the floor of the exchange was mixed, with trade volumes declining by 47.50%, while total value of transactions rose by 14.50%.
Data from Atlass Portfolio Limited revealed that 947.87 million units of shares worth ₦17.97 billion were exchanged in 36,036 deals. FCMB led both in volume and value, accounting for 48.68% of shares traded and 26.38% of market value, respectively. Other active stocks included UNIVINSURE, ROYALEX, ZENITHBANK, and FIRSTHOLDCO.
On the gainers’ chart, PZ and UPL topped with a 10% price appreciation each. They were followed closely by ELLAHLAKES (+9.94%), LEGENDINT (+9.90%), NCR (+9.84%), and AIICO (+9.74%). In total, 41 stocks appreciated.
However, 17 equities closed in the red. IMG, ENAMELWA, THOMASWY, and UNIONDICON all shed 10% each, while ETERNA lost 9.36%, TRANSCORP declined by 7.34%, FIRSTHOLDCO dipped 5.57%, and LIVESTOCK dropped 4.52%.
Sectoral performance was largely positive. Insurance stocks gained 3.16%, consumer goods advanced by 0.60%, and industrial goods edged higher by 0.02%. The banking index was the only laggard, down by 0.53%, while the oil and gas sector closed flat.
With the bullish breadth of 41 gainers against 17 losers, analysts say the NGX is set to sustain a positive trend if bargain hunting continues in the coming sessions.
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