Nigeria’s equities market extended its bullish run on Monday, adding N514.97 billion in market value as investors continued to position ahead of expected market-moving events and corporate actions.
The benchmark NGX All-Share Index (ASI) rose by 0.38 per cent to close at 243,396.25 basis points, reinforcing the market’s strong upward trajectory and pushing the year-to-date return to 56.41 per cent. Consequently, total market capitalisation climbed to N156.11 trillion.
The latest advance underscores sustained investor confidence in the domestic bourse despite prevailing macroeconomic uncertainties, with strong buying interest recorded across key sectors of the market.
Trading data showed that gainers marginally outnumbered losers, reflecting broadly positive market sentiment. A total of 32 stocks appreciated in value against 29 decliners, resulting in a positive market breadth ratio of 1.1 times.
Among the top-performing equities were International Energy Insurance Plc, The Initiates Plc, ABC Transport Plc, Abbey Mortgage Bank Plc and UPDC Real Estate Investment Trust (REIT), which led the gainers’ chart as investors accumulated positions in selected stocks across sectors.
On the flip side, Fidson Healthcare Plc, Academy Press Plc, R.T. Briscoe (Nigeria) Plc, SUNU Assurances Nigeria Plc and Learn Africa Plc recorded the steepest declines, as investors engaged in profit-taking activities following recent gains.
Sectoral performance further highlighted the market’s resilience, with most indices closing in positive territory. The Oil and Gas Index emerged as the strongest performer, advancing 0.87 per cent, followed by the Insurance Index, which gained 0.62 per cent.
The Banking Index also recorded a solid increase of 0.59 per cent, supported by renewed demand for tier-one banking stocks, while the Commodity and Consumer Goods indices appreciated by 0.37 per cent and 0.10 per cent respectively.
The Industrial Goods Index was the only sector to close in negative territory, slipping marginally by 0.003 per cent and exerting a slight drag on the broader market.
Investor participation strengthened significantly during the session, reflecting heightened market activity and improving liquidity conditions. Total trading volume rose by 22.63 per cent to 746.18 million shares, while turnover surged by 81.26 per cent to N58.06 billion.
Similarly, the number of deals executed on the Exchange climbed by 39.93 per cent to 75,320 transactions, indicating broad-based participation from both institutional and retail investors.
The strong performance is attributable to sustained investor appetite for equities amid expectations of improved corporate earnings and continued economic reforms. The sharp increase in turnover was also seen as evidence of growing confidence among market participants.
Looking ahead, market operators expect the bullish momentum to be sustained as investors recalibrate and reposition their portfolios in anticipation of emerging opportunities across sectors. However, they cautioned that intermittent profit-taking could temper gains following the market’s remarkable performance so far this year.
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