NGX Opens the Week on a Positive Note, Adding N745bn In Market Value

The Nigerian Exchange Limited kicked off the new trading week on a positive footing on Monday, as strong demand for key stocks pushed total market capitalisation up by N745bn, signalling improved investor confidence in the equities market.

At the close of the session, market capitalisation rose to N104.52tn from N103.78tn in the previous trading day. The All-Share Index also gained 946.61 points, representing a 0.58 per cent increase, to settle at 163,244.69 points, up from 162,298.08 points.

Trading activity showed notable improvement, with investors exchanging 1.15 billion shares valued at N19.21bn across 59,326 deals. This reflected an 84 per cent jump in trading volume, a four per cent increase in turnover, and a 35 per cent rise in deal count compared with the preceding session.

Market breadth was largely positive, as 128 listed equities were active during the session. Forty-nine stocks recorded gains, while twenty closed lower, indicating a broadly bullish market sentiment. E-Tranzact International led the gainers, rising by 10 per cent to close at N16.50. Red Star Express also appreciated by 10 per cent to N11.55, while McNichols climbed 10 per cent to N6.05. UPDC advanced by 10 per cent to N5.50, RT Briscoe gained 10 per cent to close at N3.96, and Deap Capital Management and Trust added 10 per cent to end the day at N3.30 per share.

On the losing side, Champion Breweries posted the steepest decline, shedding 8.51 per cent to close at N15.05. Eunisell Interlinked followed with an 8.01 per cent drop to N156.20, while Ikeja Hotel fell by eight per cent to N36.80. Guinea Insurance declined by 7.30 per cent to N1.27, Omatek Ventures slipped by 3.12 per cent to N1.24, and Lasaco Assurance eased by 2.99 per cent to close at N2.60 per share.

In terms of volume, Sovereign Trust Insurance led trading activity with over 307 million shares exchanged. Fidelity Bank followed with about 158 million shares, while Linkage Assurance and Mutual Benefits Assurance also ranked among the most actively traded stocks. By value, Fidelity Bank topped the chart with trades worth N3.14bn. Aradel Holdings, Zenith Bank, Eunisell Interlinked and Sovereign Trust Insurance also recorded substantial value transactions, boosting overall market liquidity.

Market analysts attributed the positive performance to renewed bargain hunting in select equities, particularly within the banking and insurance sectors, alongside stronger investor confidence driven by the market’s sustained position above the N100tn capitalisation level.

They added that continued buying interest, supported by expectations of full-year corporate earnings and ongoing portfolio adjustments by investors, could sustain the upward trend in the near term, although periods of profit-taking may still occur.

The strong opening to the week further underscores the NGX’s resilience, with market capitalisation firmly above N104tn, highlighting sustained strength in Nigeria’s equities market despite ongoing macroeconomic pressures.