The Nigerian equities market extended its bullish momentum on Monday, adding ₦400 billion in market value despite mixed movements in key indices. The session began the week on a positive trajectory, reflecting strong investor sentiment.
The NGX All-Share Index (ASI) rose by 0.53%, increasing by 713.58 basis points to a new historic high of 135,166.51. This positive performance translated into a 0.47% uptick in total market capitalization, which closed at ₦85.46 trillion—an increase of approximately ₦399.88 billion.
The divergence between the ASI and the market cap was linked to the delisting of MRS Oil Nigeria Plc’s entire issued share capital from the Nigerian Exchange (NGX).
Despite this technical adjustment, market breadth remained healthy, with investor appetite buoyed by bargain hunting and the release of impressive half-year results by several listed firms. The year-to-date return climbed to 31.32%, affirming a strong outlook among domestic and foreign investors.
Trading activity was somewhat mixed. While the total trade volume surged by 11.47%, the total transaction value declined by 4.14%. According to Atlass Portfolio Limited, roughly 795.59 million shares valued at ₦23.23 billion exchanged hands across 37,626 trades.
FIDELITYBK led in both volume and value, accounting for 15.53% of total trade volume and 11.14% of transaction value. Other top volume drivers included FCMB (8.64%), JAPAULGOLD (5.57%), ZENITHBANK (3.92%), and ACCESSCORP (3.67%).
On the gainer’s board, ACADEMY emerged as the top performer with a 9.99% price increase. It was closely followed by CHAMPION (+9.98%), TRIPPLEG (+9.97%), MAYBAKER (+9.94%), UACN (+9.92%), and DAARCOMM (+9.88%).
Conversely, LIVESTOCK led the losers’ chart, shedding 10%. Other notable laggards included TIP (-9.98%), NGXGROUP (-6.02%), AFRIPRUD (-4.94%), FTNCOCOA (-3.31%), and ZENITHBANK (-1.76%).
Out of the 69 stocks that recorded price movements, 44 advanced while 25 declined, signaling a positive market breadth. Sector performance was largely optimistic. The insurance index led with a 2.54% rise, followed by consumer goods (+1.29%) and industrial goods (+0.64%).
However, the banking sector slipped by 0.69% due to mild profit-taking activities. Oil & Gas and Commodity sectors closed marginally higher by 0.22% and 0.01% respectively.
