Reported by Tahir Ishaq Shehu
The Nigerian stock market commenced the week on a bullish note as investors recorded a gain of ₦341 billion in market capitalization, signaling a strong start to the trading week.
The All-Share Index (ASI) of the Nigerian Exchange Limited (NGX) advanced by 0.43% to close at 126,689.54 points, pushing the year-to-date (YTD) return to 23.09%. Correspondingly, the market capitalization rose to ₦80.14 trillion, reflecting renewed investor confidence across key sectors.
Market Activity
Trading activity saw a positive upswing:
Volume of shares traded: 1.29 billion
Value of transactions: ₦32.2 billion
Number of deals: 39,431
This marks increases of 7.39% in volume, 5.41% in value, and 18.06% in the number of transactions compared to the previous session.
Top Performers and Movers
Gainers:
BUA Cement, Dangote Cement, and Transcorp led the charge, driving market sentiment upward.
Most traded by volume:
Access Holdings, with over 138 million shares exchanged.
Most traded by value:
Seplat Energy, recording trades worth over ₦5.38 billion.
Sector Performance
Sectoral performance was largely positive:
Gaining sectors: Industrial Goods, Banking, Commodities, and Oil & Gas.
Declining sectors: Consumer Goods and Insurance saw marginal losses.
Outlook
Market analysts suggest that continued bullish momentum will depend on macroeconomic indicators and corporate earnings reports expected in the coming days. However, the early gains set a promising tone for the rest of the trading week.
