Investors Gain N574 Billion as Nigerian Stock Market Continues Bullish Streak
Equity investors saw impressive gains of approximately ₦574 billion as bullish sentiment remained strong on the Nigerian Exchange (NGX), driven by persistent value hunting and a flurry of corporate earnings announcements.
According to market analysts, the continued release of financial results and interim dividend declarations by top-performing companies—often dubbed dividend aristocrats—has kept the market momentum on an upward trajectory.
On Monday, the NGX All-Share Index (ASI) rose by 0.64%, closing at 144,074.23 points. This pushed the year-to-date return to 40.87%, reinforcing the view that investor confidence in the Nigerian equities market remains robust.
The rally was largely fueled by strong buying interest in select mid- and large-cap stocks. Notable performers included BUACEMENT, which appreciated by 10.00%, STERLINGNG (+9.93%), UNILEVER (+7.38%), and OANDO (+5.69%). Other stocks contributing to the rally were ETI (+4.41%), UACN (+2.99%), NAHCO (+1.93%), FIDELITYBK (+1.42%), TRANSCORP (+1.40%), ARADEL (+1.17%), VFDGROUP (+0.75%), and WEMABANK (+0.40%).
The continued reallocation of funds from fixed-income securities to equities suggests investors are betting on stronger returns from stocks with solid fundamentals amid an improving economic outlook.
As a result, the market capitalisation rose by ₦583.74 billion, also representing a 0.64% gain, to close at ₦91.73 trillion.
Trading activity also saw a boost. Total volume traded climbed by 24.13%, while the total value of transactions advanced by 14.29%. By the close of the session, around 1.006 billion shares worth ₦22.25 billion had changed hands in 38,481 transactions.
In terms of volume, AIICO led with 9.47% of the day’s trades, followed by UNIVINSURE (8.51%), LINKASSURE (6.24%), FIDELITYBK (5.77%), and VERITASKAP (4.89%).
On the value chart, GTCO stood out as the most traded stock, accounting for 17.22% of the total value of transactions on the day. Other top gainers included MBENEFIT, NEIMETH, ENAMELWA, and SUNUASSUR, each notching a 10.00% rise in share price.
Additional top risers were VERITASKAP (+9.87%), ABBEYBDS (+9.87%), JOHNHOLT (+9.85%), CORNERST (+9.79%), and 41 other advancing stocks. In contrast, 21 stocks recorded price declines.
LIVINGTRUST was the session’s worst performer, falling by 9.86%. Other notable losers included MECURE (-9.20%), CADBURY (-7.35%), FIRSTHOLDCO (-4.76%), TANTALIZER (-3.82%), and WAPCO (-1.68%).
Overall market sentiment closed positive, with a breadth of 52 gainers to 21 losers.
On a sectoral basis, performance was mixed but leaned towards the positive. The Insurance sector led the gains with a 7.51% rise, followed by Industrial Goods (+3.35%), Oil & Gas (+0.91%), and Commodities (+0.20%). Conversely, the Banking and Consumer Goods sectors posted declines of 0.86% and 0.43%, respectively.
