The Nigerian equities market delivered one of its strongest single-day performances in recent history on Monday, with investors recording a ₦5.11 trillion increase in portfolio value as the benchmark index closed at an all-time high.
Trading activity on the Nigerian Exchange (NGX) opened the week on a bullish note, driven by aggressive bargain hunting in fundamentally strong stocks perceived to have further upside potential.
The All-Share Index (ASI) advanced by 4.37 percent to settle at 190,281.57 points, lifting the year-to-date return to 22.28 percent. Market analysts noted that this represents the fourth instance since November 2020 that the index has posted a single-day gain exceeding 4 percent.
Market capitalisation mirrored the index’s momentum, rising by 4.37 percent to close at ₦122.14 trillion, reflecting an absolute gain of ₦5.11 trillion.
Market Breadth and Sectoral Performance
Investor sentiment remained decisively positive, as market breadth closed at 1.9x. A total of 54 stocks recorded price appreciation compared to 28 decliners, confirming broad-based participation across counters.
Among the top-performing equities were ABCTRANS, ARADEL, JAIZBANK, MCNICHOLS and OANDO, which led the gainers’ chart. Conversely, RTBRISCOE, DEAPCAP, CAVERTON, GUINEAINS and TANTALIZER registered the sharpest declines.
Sectoral indices also reflected widespread buying interest. The Industrial Goods index led sectoral gains with a 7.77 percent surge. The Oil & Gas index climbed 4.73 percent, while Banking stocks advanced 4.71 percent. The Commodity index gained 3.15 percent, Insurance appreciated 2.45 percent, and Consumer Goods rose 1.44 percent.
Trading Metrics Strengthen
Market turnover expanded significantly across all indicators. Share volume rose by 13.46 percent to 1.06 billion units. The value of transactions increased 19.48 percent to ₦62.99 billion, while total deals executed climbed 28.30 percent to 64,237 trades.
Market watchers attribute the rally to renewed institutional participation, improving macroeconomic sentiment, and positioning ahead of anticipated corporate earnings releases.
With the NGX now trading at record levels, investors will closely monitor sustainability of liquidity flows and valuation metrics as the earnings season unfolds.
