By Seun Ibiyemi
The Nigerian stock market commenced the week on a bullish note on Monday, with investors gaining N515 billion as renewed buying interest in insurance, financial services and transportation stocks lifted key market indicators.
At the close of trading, the market capitalisation of the Nigerian Exchange (NGX) increased by 0.33 per cent to N156.108 trillion from N155.593 trillion recorded in the previous session, reflecting a gain of N515 billion in investors’ wealth.
Similarly, the benchmark All-Share Index (ASI) advanced by 802.94 points, or 0.33 per cent, to close at 243,396.25 points, compared with 242,593.31 points posted on Friday.
The latest performance further strengthened the market’s year-to-date return, which rose to 56.41 per cent, underscoring sustained investor confidence in equities despite prevailing macroeconomic challenges.
Market sentiment remained positive, with 32 stocks recording gains against 30 decliners, indicating broad-based participation across sectors.
Leading the gainers’ chart was International Energy Insurance, which appreciated by 9.92 per cent to close at N7.98 per share. It was followed by The Initiates Plc, which gained 9.91 per cent to settle at N32.15, while ABC Transport rose by 9.68 per cent to N6.80 per share.
Abbey Mortgage Bank advanced by 9.63 per cent to close at N10.25, while UPDC Real Estate Investment Trust Credit appreciated by 8.91 per cent to finish at N11 per share.
On the losers’ table, Fidson Healthcare led the decline with a 10 per cent drop to close at N122.85 per share. Academy Press followed with a loss of 9.70 per cent to N7.45, while RT Briscoe shed 9.43 per cent to settle at N13.45 per share.
Sunu Assurances declined by 9.38 per cent to N4.06, while Learn Africa fell by 8.70 per cent to close at N10.50 per share.
Trading activity also improved significantly during the session, reflecting stronger investor participation.
A total of 717.16 million shares valued at N56.66 billion were exchanged in 73,321 deals, compared with 608.49 million shares worth N32.03 billion traded across 53,826 transactions in the previous session.
The increase in trading volume, value and deal count signalled heightened market activity and growing investor interest in selected equities.
FCMB Group emerged as the most actively traded stock by volume, with 157.80 million shares changing hands, representing 21.15 per cent of total market volume.
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In terms of value, Dangote Cement dominated trading, recording transactions worth N29.77 billion, accounting for more than half of the total value traded during the session.
Market analysts said the positive start to the week reflects continued investor appetite for fundamentally strong stocks and expectations of improved corporate earnings, particularly in the banking, industrial and insurance sectors.
They noted that sustained liquidity and portfolio rebalancing activities could continue to support market performance in the near term, although investors remain watchful of macroeconomic developments and policy signals that could influence market direction.
