By Boluwatife Oshadiya
Key Points
- NGX market capitalisation rises by ₦63 billion
- All-Share Index gains 0.36% to close at 243,158.97
- Year-to-date return strengthens to +56.26%
- Insurance and industrial stocks lead sectoral gains
Main Story
The Nigerian equities market extended its bullish trajectory on Monday, with investors gaining approximately ₦63 billion in market value as buying interest intensified across key sectors.
The benchmark All-Share Index (ASI) of the Nigerian Exchange Limited advanced by 0.36% to close at 243,158.97 points, reflecting sustained investor confidence and continued capital rotation into high-performing stocks.
Market capitalisation climbed to ₦156.06 trillion, supported by strong year-to-date performance, which now stands at +56.26%, underscoring one of the most robust equity rallies in recent years.
Trading sentiment remained broadly positive, with 44 gainers outpacing 34 decliners, resulting in a market breadth ratio of 1.3x. Leading gainers included CONHALLPLC, FTNCOCOA, NAHCO, CAP, and AIICO, while INTENEGINS, UPDC, LEARNAFRICA, and NEM recorded notable losses.
Sectoral performance was mixed. Insurance (+1.25%), Industrial Goods (+1.08%), Consumer Goods (+0.83%), and Banking (+0.41%) sectors posted gains, while Oil & Gas (-0.89%) and Commodities (-0.49%) weighed on overall performance.
Despite the positive price movement, trading activity showed divergence. Total volume traded declined by 24.79% to 1.41 billion shares, while turnover dropped 44.40% to ₦57.98 billion. However, deal count surged by 44.09% to 133,071 transactions, indicating increased market participation at smaller trade sizes.
What’s Being Said
Market analysts attribute the rally to improved investor sentiment and portfolio rebalancing toward fundamentally strong stocks.
“The sustained upward movement reflects renewed confidence in equities, particularly as investors position ahead of earnings expectations and macroeconomic adjustments,” analysts noted.
What’s Next
Analysts expect the market to maintain its upward trajectory in the near term, supported by positive sentiment, liquidity inflows, and the extended trading window recently introduced by the exchange. However, intermittent profit-taking could moderate gains.
