The Nigerian equities market kicked off the month of August on a strong note, with investors recording a remarkable gain of ₦948.11 billion on the first trading day. The market capitalization surged from ₦88.42 trillion to ₦89.37 trillion, reflecting renewed investor confidence and sustained bullish sentiment.

The benchmark All-Share Index (ASI) rose by 1.00%, closing at 141,263.05 points, up from 139,863.52 points the previous day.

Market Movers

The rally was driven by strong performances from blue-chip and mid-tier stocks. UAC of Nigeria Plc led the gainers with a 9.96% increase, followed closely by BUA Cement Plc at +9.63%, and Veritas Kapital Assurance Plc at +9.45%.

Conversely, Champion Breweries, Oando Plc, and Dangote Sugar Refinery Plc topped the losers’ chart, each declining by approximately 10% amid profit-taking and sector-specific headwinds.

Market Activity

Investor participation remained robust, with a total of 1.08 billion shares exchanged in 34,488 deals, valued at ₦26.85 billion.

Top traded stocks by volume:

FCMB Group Plc

Fidelity Bank Plc

Sterling Financial Holdings Plc

Top traded by value:

Aradel Holdings Plc

Zenith Bank Plc

FCMB Group Plc

Out of the total equities traded, 39 stocks recorded gains, 32 declined, while 86 closed flat.

Outlook

Analysts view the strong opening in August as a continuation of the bullish momentum that has characterized recent sessions. The market’s performance has now delivered 23 consecutive sessions of gains, with further upward movement recorded on Monday, August 4, where investors added an additional ₦1.7 trillion to their wealth.

As economic reforms and corporate earnings continue to shape investor sentiment, the Nigerian Exchange appears poised for further expansion in the near term.