The Nigerian Exchange (NGX) kicked off the new trading week on a positive note, as the equity market recorded a N52.17 billion increase in market capitalization. By the close of trading on Monday, the All-Share Index (ASI) rose by 83.31 points, settling at 106,621.91 points, reflecting a year-to-date gain of 3.59 percent. The overall market capitalization reached N66.8 trillion.
Market activity saw a significant boost, with investors trading 364.97 million shares in 14,565 deals, valued at N17.63 billion. This represents a 5 percent increase in trading volume, an 81 percent rise in turnover value, and a 22 percent jump in the number of deals compared to the previous trading session on Friday.
Eterna Plc led the gainers’ chart, appreciating by 9.96 percent to close at N37.55 per share. Transcorp followed with a 9.91 percent increase, settling at N51.55, while FCMB Group gained 9.89 percent to close at N10.00 per share. Other top performers included Africa Prudential, which rose by 9.85 percent to N36.25, and ABC Transport, which climbed by 8.67 percent to N1.63 per share. Dangote Sugar also recorded an 8.11 percent gain, closing at N40.00 per share.
On the flip side, VFD Group topped the losers’ table, declining by 9.92 percent to close at N47.20 per share. International Energy Insurance followed with an 8.72 percent drop to N1.78, while Cadbury Nigeria lost 8 percent to close at N23.00 per share. Cornerstone Insurance dipped by 7.89 percent to N2.92, Honeywell Flour declined by 7.06 percent to N12.50, and Omatek dropped by 6.58 percent to N0.71 per share.
In terms of trading volume, Fidelity Bank led the pack with 56.4 million shares traded. Access Holdings followed with 30.4 million shares, Zenith Bank accounted for 27.6 million shares, and Africa Prudential saw 23.3 million shares exchanged.
Sectoral indices displayed mixed performances. The Top 30 Index rose by 0.24 percent, while the Pension Index gained 0.34 percent. The Consumer Goods Index increased by 0.23 percent, the Banking Index advanced by 0.2 percent, and the Main Board Index appreciated by 0.17 percent. However, the Premium Index experienced a slight decline of 0.08 percent.
This positive start to the week comes after a challenging period for the Nigerian stock market. Last week, the market recorded a N476 billion loss, with investors trading a total of 1.818 billion shares worth N47.226 billion in 64,222 deals.
The recent gains reflect renewed investor confidence, but market analysts remain cautious as they monitor ongoing economic conditions and corporate performance. The mixed sectoral performance suggests selective buying, with investors focusing on stocks with strong fundamentals and growth potential.
As the trading week progresses, market participants will continue to assess macroeconomic indicators and corporate earnings reports to gauge the sustainability of the current upward trend.
