The Nigerian Exchange Limited (NGX) ended the first trading session of the week slightly higher on Monday, adding about N3 billion to market value as investors maintained a cautious approach amid mixed performance across sectors.
Market capitalisation inched up to approximately N95.3 trillion, while the All-Share Index (ASI) rose marginally by 4.62 points to close at 149,437.88. The modest gain reflected selective buying interest, even as overall market activity remained subdued.
Trading data showed that 553.16 million shares worth N13.27 billion were exchanged in 28,888 deals. This represented a three per cent drop in trading volume and a sharp 54 per cent decline in turnover compared with the previous session. However, the number of transactions increased by 42 per cent, suggesting heightened but cautious participation by investors.
Analysts attributed the trend to ongoing portfolio rebalancing and profit-taking in some large-cap stocks, with investors choosing to position carefully in the face of mixed macroeconomic signals.
Gainers and Losers
Market breadth closed positive, as 28 stocks recorded price gains against 23 decliners, while others closed unchanged. Sovereign Trust Insurance Plc topped the gainers’ chart after rising by 10 per cent to N3.74 per share.
Guinness Nigeria Plc followed closely with a 9.96 per cent increase to close at N239.50. MeCure Industries Plc gained 9.88 per cent to N41.70, while First HoldCo Plc advanced by 9.86 per cent to settle at N34.55. AIICO Insurance Plc and Alex Industries Plc also posted notable gains during the session.
On the downside, Prestige Assurance Plc led the decliners after shedding 10 per cent to close at N1.53. FTN Cocoa Processors Plc dropped by 8.16 per cent to N4.50, while Guinea Insurance Plc lost 7.69 per cent to close at N1.08.
Royal Exchange Plc declined by 7.25 per cent to N1.79, and Nigerian Breweries Plc fell by 6.86 per cent to close at N76.75, reflecting profit-taking in select consumer stocks.
Sector Performance and Market Activity
Sectoral performance was mixed. Gains in the banking and insurance indices helped support the overall market, while some industrial and consumer goods stocks recorded mild losses. The Banking Index rose by 0.89 per cent, and the Insurance Index advanced by 0.87 per cent. In contrast, the Top 30 Index slipped slightly by 0.08 per cent, pressured by sell-offs in heavyweight stocks.
In terms of activity, FCMB Group Plc led trading by volume with 92.04 million shares exchanged, followed by Access Holdings Plc with 67.93 million shares. Consolidated Hallmark Holdings Plc traded 50.78 million shares, while Fidelity Bank Plc and Jaiz Bank Plc also ranked among the most active.
By value, Vitafoam Nigeria Plc topped the chart, with Access Holdings Plc, GTCO Plc, First HoldCo Plc and FCMB Group Plc also recording significant transaction values.
Market Outlook
Market analysts noted that the modest N3 billion gain highlights the prevailing cautious sentiment among investors. They added that while fundamentals remain supportive, near-term trading is likely to be influenced by selective buying, profit-taking and expectations around corporate earnings releases and policy direction until clearer market catalysts emerge.
