The Nigerian Exchange Limited (NGX) witnessed a strong rebound on Monday as renewed investor interest in blue-chip and mid-tier equities propelled the market upward, delivering ₦704 billion in fresh gains to shareholders.
The benchmark All-Share Index (ASI) appreciated by 0.82%, adding 1,155.32 basis points to settle at 141,701.01 points. This surge was largely attributed to bargain hunting in leading counters such as BUA Foods, GTCO, Unilever Nigeria, LivingTrust Mortgage Bank, and Chams.
The rally marked a reversal from the losses recorded in the previous trading session before the weekend. As a result, the market capitalization advanced from ₦88.93 trillion to ₦89.63 trillion.
Trading activity improved significantly, with total volume rising by 25.46% while value soared by 47.58%, reflecting increased participation across the bourse. Market data showed that 545.41 million units worth ₦23.86 billion exchanged hands in 31,293 transactions.
Market Activity Highlights
- UACN Plc dominated the volume chart, contributing 12.11% of total deals, followed by Regency Alliance Insurance (10.32%), Access Holdings (6.80%), Lasaco Assurance (5.91%), and Chams (5.88%).
- In terms of value, Geregu Power Plc led the pack, representing 42.69% of all trades.
Gainers and Losers
On the winners’ list, LivingTrust Mortgage Bank advanced by 9.96%, while Etranzact International rose 9.70%. Others such as Regency Alliance (9.64%), Northern Nigeria Flour Mills (8.62%), Unilever Nigeria (8.41%), and Multiverse Mining (7.83%) also recorded strong upticks.
Conversely, McNichols Plc topped the losers’ chart, shedding 9.90%. Honeywell Flour (-9.13%), Sterling Financial Holdings (-4.43%), First Bank Holdings (-2.53%), and Japaul Gold (-1.82%) were also among the laggards.
Sector Performance
The market closed with a slightly positive breadth, recording 31 gainers against 30 decliners.
- Consumer Goods Index (+3.54%) was the best performer, buoyed by BUA Foods (+6.73%), Unilever (+8.41%), Cadbury (+7.48%), and Vitafoam (+4.39%).
- Banking Index (+0.05%) edged higher on gains in GTCO (+1.29%), Access Holdings (+0.75%), and FCMB (+0.93%).
- The Insurance Index (-0.23%) recorded the steepest decline, pressured by losses in NEM Insurance (-2.31%) and AIICO (-1.68%).
- Oil & Gas (-0.09%) also slipped on profit-taking in Oando (-1.04%), while Industrial Goods and Commodities indices closed flat.
Analysts expect the positive momentum to continue if investors maintain buying pressure in fundamentally sound equities.
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