The Nigerian stock market sustained its bullish trend on Monday, driven by notable gains in shares of International Breweries, Cadbury Nigeria, and other leading companies. This positive momentum added ₦228.48 billion to the market’s capitalisation.
At the close of trading on the Nigerian Exchange Limited (NGX), the market capitalisation rose to ₦66.7 trillion, up from ₦66.47 trillion recorded in the previous session. Likewise, the All-Share Index gained 371.53 points, representing a 0.35% increase, to settle at 106,124.14 basis points.
Increased Trading Activity
The day’s trading saw a total of 500.59 million shares worth ₦12.11 billion exchanged across 17,637 deals. Compared to the previous session, trading volume rose by 17%, although the value of transactions declined by 40%. The number of deals improved by 23%, signaling heightened investor participation.
Market sentiment remained positive, with 47 stocks recording gains against 17 that closed in the red.
Top Performers and Laggards
International Breweries led the day’s gainers with a 10% jump in its share price, closing at ₦8.47. Legend Internet followed closely, posting a 9.97% gain to end at ₦7.50 per share. Cadbury Nigeria also performed strongly, appreciating by 9.96% to close at ₦29.25. Fidson Healthcare was another standout, advancing by 9.95% to close at ₦20.45 per share.
On the downside, Livestock Feeds led the losers’ chart, shedding 10% to close at ₦8.55. Aradel Holdings declined by 9.86% to ₦448.00, while Tripple Gee & Company and John Holt lost 9.6% and 7.94%, closing at ₦1.79 and ₦5.80 respectively.
Most Active Stocks
Access Holdings was the day’s most actively traded stock, with 60.9 million shares exchanged. Fidelity Bank followed with 56.1 million shares, United Bank for Africa traded 34.5 million shares, and Guaranty Trust Holding Company recorded 33.5 million shares traded.
Sectoral Indices Reflect Positive Sentiment
Sectoral performance largely mirrored the market’s bullish tone. The Consumer Goods Index rose by 2.38%, supported by gains in stocks like International Breweries and Cadbury Nigeria. The Banking Index climbed 1.31%, driven by renewed buying interest in banking stocks. The Insurance Index also posted a modest gain of 0.32%, reflecting steady growth within the sector.
The sustained market uptrend highlights increasing investor confidence and growing momentum in Nigeria’s equity market.
