The Nigerian stock market kicked off the week on a positive note, with investors gaining over N52 billion as key stocks, including Transcorp, Eterna, and FCMB, recorded significant price increases. The Nigerian Exchange (NGX) All-Share Index (ASI) rose by 0.08%, reflecting renewed investor confidence in the market.
Investor optimism was largely driven by corporate earnings reports, prompting a wave of bargain hunting in fundamentally strong stocks trading at attractive valuations. The NGX All-Share Index gained 83.31 basis points, bringing it to 106,621.91 at the close of the trading session.
Market activity also saw an uptick, with total trade volume increasing by 4.52%, while trade value surged by 81.06%. Atlass Portfolios Limited reported that about 364.97 million shares worth ₦17.63 billion were exchanged in 14,565 transactions.
FIDELITYBK led trading in volume terms, accounting for 15.47% of total market trades, followed by ACCESSCORP (8.34%), ZENITHBANK (7.58%), AFRIPRUD (6.39%), and TANTALIZER (3.24%).
GEREGU emerged as the most traded stock by value, accounting for 53.63% of the total trade value. Among gainers, ETERNA led the way with a 9.96% increase, followed by TRANSCORP (+9.91%), FCMB (+9.89%), AFRIPRUD (+9.85%), ABCTRANS (+8.67%), and DANGSUGAR (+8.11%).
Conversely, 27 stocks recorded losses. VFDGROUP was the biggest loser, declining by 9.92%, followed by CADBURY (-8.00%), HONYFLOUR (-7.06%), TOTAL (-4.93%), OANDO (-3.57%), and WAPCO (-1.33%). Overall, market breadth remained positive, with 32 gainers against 27 losers, indicating strong investor interest in value and growth stocks.
Despite the gains, three of the five major market sectors closed lower. The Insurance sector dropped the most, falling by 0.87%, followed by the Oil & Gas sector (-0.44%) and the Industrial sector (-0.18%). Meanwhile, the Consumer Goods and Banking sectors posted modest gains of 0.23% and 0.20%, respectively.
The total market capitalization of the Nigerian Exchange (NGX) rose by N52.17 billion, marking a 0.08% growth to settle at N66.77 trillion.
