The Nigerian Exchange Limited (NGX) began the new trading week on a bullish note, with strong investor interest across key stocks lifting the total market capitalisation by N745 billion. At the close of trading on Monday, the equities market capitalisation rose to N104.52 trillion, up from N103.78 trillion recorded in the previous session, while the All-Share Index (ASI) gained 946.61 points or 0.58 per cent, closing at 163,244.69 points.
Market activity improved significantly, with 1.15 billion shares valued at N19.21 billion exchanged in 59,326 deals, marking an 84 per cent increase in volume, a four per cent rise in turnover, and a 35 per cent growth in the number of deals compared to the preceding session. A total of 128 equities participated in trading, with 49 stocks advancing and 20 declining, reflecting a broadly positive sentiment in the market.
On the gainers’ table, E-Tranzact International led with a 10 per cent gain to close at N16.50, while Red Star Express, McNichols, UPDC, RT Briscoe, and Deap Capital Management and Trust also rose by 10 per cent each. Conversely, Champion Breweries recorded the highest decline, shedding 8.51 per cent to N15.05, followed by Eunisell Interlinked (-8.01%), Ikeja Hotel (-8%), Guinea Insurance (-7.30%), Omatek Ventures (-3.12%), and Lasaco Assurance (-2.99%).
Sovereign Trust Insurance was the most actively traded stock by volume with over 307 million units, while Fidelity Bank led by value, recording transactions worth N3.14 billion. Analysts attributed the positive performance to renewed bargain hunting, particularly in banking and insurance stocks, as well as increased confidence following the market capitalisation crossing the N100 trillion milestone.
The NGX’s strong start to the week highlights the resilience of Nigeria’s equities market, suggesting that continued buying interest and expectations of full-year corporate earnings could sustain the upward momentum, even as intermittent profit-taking persists.
Wow, the Nigerian stock market is on fire! Can this growth be sustained, or are we in for a rollercoaster ride? 🤔
I cant believe how the market keeps going up! Will it ever come crashing down, or are we in for a wild ride?
I wonder if this surge in market capitalization will lead to more investment opportunities for local entrepreneurs in Nigeria.
Is this a sign of sustainable growth or just a temporary spike? Lets see how the week unfolds!
Im not convinced this market boom is sustainable. What do you think? Will the Nigerian Exchange keep rising?
Wow, the Nigerian market is on fire! Who else is excited about this unexpected surge in market capitalization? 🔥📈
Wow, the Nigerian market is on fire! Do you think this growth is sustainable or just a temporary spike? Lets discuss!
I wonder if this bullish trend will be sustained or if were in for a rollercoaster ride. Exciting times ahead!
I wonder if this growth is sustainable or just a temporary spike. Time will tell! Exciting times for the Nigerian exchange.