The Nigerian Exchange Limited (NGX) kicked off the week on a bullish note, as renewed investor confidence fueled a market capitalisation increase of N400 billion. The All-Share Index (ASI) rose by 713.58 points, or 0.53 per cent, to close at 135,166.51, lifting total market capitalisation to N85.5 trillion. This upward momentum marks a continuation of recent gains, with the ASI advancing 2.53 per cent in the past week, 12.64 per cent over four weeks, and 31.32 per cent year-to-date.
Market activity was buoyant, with 127 listed equities trading and resulting in 45 gainers and 26 losers. A total of 795.6 million shares were exchanged in 37,626 deals, valued at N23.23 billion — representing an 11 per cent increase in volume and a 51 per cent jump in the number of deals. However, turnover dipped slightly by four per cent compared to the previous session. Top gainers included Academy Press (+9.99%), Champion Breweries (+9.98%), and Tripple Gee (+9.97%), while Livestock Feeds (-10%) and The Initiates Plc (-9.98%) led the laggards.
Fidelity Bank dominated trading volumes and value, with 123 million shares worth N2.58 billion. It was followed by FCMB, Japaul Gold, Zenith Bank, and Access Corporation in volume, and by Zenith Bank, MTN Nigeria, Okomu Oil, and Dangote Cement in value. Sector-wise, performance was broadly positive: the Consumer Goods Index climbed 1.29%, Insurance rose 2.54%, and the Industrial Index added 0.64%. The strong start signals growing investor optimism as market participants respond to earnings results, economic indicators, and mid-year repositioning strategies.
