The Nigerian Exchange (NGX) recorded a strong start to the week as equity investors saw their portfolio value rise by ₦152 billion, driven by robust price movements in BUA Cement and PRESCO. The rally was further buoyed by gains in select mid- and small-cap stocks, reflecting cautious optimism ahead of this week’s Central Bank of Nigeria (CBN) Monetary Policy Committee (MPC) decision.
Despite early session volatility, market momentum turned positive, with strong demand in blue-chip stocks reversing initial losses. BUACEMENT surged 5.2%, while PRESCO jumped 5.1%, anchoring the market’s upward trajectory.
The All-Share Index (ASI) climbed 0.18% to close at 131,826.77 points, lifting the year-to-date return to 28.08%—a signal of sustained investor confidence in the domestic equities market. The market capitalization followed suit, rising to ₦83.39 trillion.
However, market breadth revealed a mixed sentiment. While 31 stocks posted gains, 44 declined, suggesting a combination of profit-taking and strategic repositioning. According to stockbrokers, this reflects a tactical rotation among investors eyeing fundamentally strong counters.
Trading data indicated ACCESSCORP led in transaction volume, accounting for 8.75% of all shares traded, followed by CONHALLPLC (6.24%) and CHAMS (5.48%). In value terms, PRESCO topped the chart, representing 14.43% of the total market value exchanged.
On the gainers list, CUTIX, INTENEGINS, and NCR each appreciated by 10%, while TIP (+9.97%) and CAVERTON (+9.75%) also showed notable performance. JBERGER (+8.66%) and WAPIC (+7.76%) were among the other top advancers.
Conversely, MEYER suffered a steep decline of -10.00%, leading the losers, followed by MCNICHOLS (-9.95%), DEAPCAP (-9.77%), and HMCALL (-7.98%). TRANSCORP shed -2.45%.
Sectoral performance was mixed. While consumer goods, industrial goods, and commodities sectors gained 0.06%, 1.50%, and 0.50%, respectively, the banking (-0.37%), insurance (-1.35%), and oil & gas (-0.10%) sectors slipped.
Although the number of executed deals rose by 7.54%, both transaction volume and value fell significantly—down 78.91% and 65.44%, respectively. A total of 706.04 million shares worth ₦21.56 billion were exchanged across 30,750 deals.
With the market showing renewed investor appetite in select sectors, attention now shifts to the outcome of the CBN’s MPC meeting, which could further influence market direction in the coming days.
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