The Nigerian stock market maintained its upward trajectory on Monday, with enthusiastic buying pushing the overall market value up by N786 billion to reach N91.9 trillion by the end of the session.
This robust performance persisted even as share volumes and transaction values dipped modestly, fueled primarily by sharp rises in key blue-chip names like Seplat Energy and AXA Mansard Insurance.
The benchmark All-Share Index climbed 1,238.71 points, equivalent to a 0.86% advance, finishing at 144,822.75. Over the past week, the index has notched a 1.89% improvement; in the last four weeks, it’s up 4.2%; and year-to-date, it boasts a solid 40.71% growth.
According to NGX records, a total of 519.9 million shares changed hands in 35,467 transactions, amounting to N14.53 billion. Compared to Friday’s activity, this marked a 5% reduction in volume traded, a 26% decrease in monetary turnover, offset by a 31% uptick in deal counts.
Trading involved 128 different stocks, resulting in 47 advancers and 24 decliners.
Heading the list of top performers was Seplat Energy, which surged 10% to N5,917.20 per share. AXA Mansard Insurance matched that gain, ending at N15.84. Other notable risers included Skye Shelter Fund, up 9.97% to N381.10; Ellah Lakes, ahead 9.95% to N14.81; Chams Holding, gaining 9.87% to N4.23; and Omatek Ventures, which rose 9.84% to N1.34.
Among the decliners, International Energy Insurance topped the losses at 8.42%, closing at N2.72 per share. McNichols came next with an 8.31% drop to N3.20, followed by Thomas Wyatt Nigeria at 7.72% lower to N2.99. Berger Paints fell 6.8% to N37.00, ABC Transport slipped 5.81% to N4.05, and C&I Leasing eased 3.23% to N6.00.
Ellah Lakes dominated in trading activity, with 80.07 million units exchanged for N1.18 billion. Chams Holding saw 30.21 million shares move for N127.26 million, while Sterling Bank handled 24.74 million shares worth N205.65 million. Custodian & Allied Insurance recorded 21.83 million shares valued at N903.74 million, and Guaranty Trust Holding Company (GTCO) traded 20.06 million shares for N1.97 billion.
For sheer monetary volume, GTCO led with N1.97 billion, trailed by Seplat Energy at N1.65 billion, Aradel Holdings at N1.21 billion, Ellah Lakes at N1.18 billion, and Zenith Bank at N1.12 billion.
Across sectors, the mood was upbeat overall: the Oil and Gas sector jumped 3.35%, Insurance advanced 3.13%, the Premium Board rose 2.06%, Pension funds gained 1.23%, and Banking edged up 0.64%.
Experts point to the ongoing boom as a reflection of robust confidence in high-quality companies, alongside growing appeal for oil and insurance sectors amid supportive market conditions.
The prior week wrapped up October’s opening on a high, with the exchange delivering N1.18 trillion in investor returns over four sessions—despite a midweek holiday on October 1 for Nigeria’s Independence Day. The All-Share Index advanced 1.02% to 143,584.04, and market capitalization swelled 1.31% to N91.135 trillion from N89.955 trillion the week before.
