Trading on the Nigerian Exchange closed on a strong note on Monday, with key sectoral indices posting gains, led by banking, oil and gas, and consumer goods stocks.
Data from the Nigerian Exchange Limited indicated that the All-Share Index rose to 195,514.23 points from 192,826.78 recorded on Friday, and market capitalisation climbed to N125.49tn, up from N123.76tn in the previous session.
In terms of market activity, trading metrics diverged as volume traded declined 4.12 per cent to 789.9 million units, while the total value traded improved marginally by 0.94 per cent to N35.08bn. Fortis Global Insurance topped the volume log with 109.1 million units (13.81 per cent of total volume traded), while Aradel topped the value log with N6.1bn (17.37 per cent of total value traded).
Investor sentiment remained broadly positive, with market breadth closing evenly at 31 gainers and 31 decliners.
On the sectoral front, the NGX Banking Index closed at 1,897.05 points, slightly up from 1,892.07 on Friday, reflecting renewed investor interest in tier-one and mid-tier lenders. Among gainers, Zenith Bank Plc rose to N91.95 from N91.00, while Guaranty Trust Holding Company Plc appreciated to N117.95 from N117.00. Wema Bank Plc gained 3.52 per cent to close at N27.95.
However, some banking stocks recorded losses, with United Bank for Africa Plc declining to N47.20 from N48.80 and Access Holdings Plc slipping to N25.95 from N26.50.
The NGX Insurance Index fell to 1,339.59 points from 1,359.91, indicating profit-taking in several counters. Despite the index decline, select insurance stocks posted gains. Sovereign Trust Insurance Plc climbed 9.95 per cent to N2.43, while FTG Insure rose 9.57 per cent to N1.03. Guinea Insurance Plc also advanced 7.19 per cent to N1.49.
On the losers’ chart, Custodian Investment Plc shed 10 per cent to close at N61.20, while AXA Mansard Insurance Plc declined 7.61 per cent to N17.00.
The NGX Consumer Goods Index strengthened to 4,385.97 from 4,370.24, supported by price appreciation in key counters. PZ Cussons Nigeria Plc jumped 9.72 per cent to N79.00, while International Breweries Plc gained 3.10 per cent to N14.95. Nigerian Breweries Plc edged up to N80.00. However, Dangote Sugar Refinery Plc dipped 2.35 per cent to N81.00.
The NGX Oil and Gas Index recorded one of the strongest performances, rising sharply to 4,250.92 from 4,060.73. Aradel Holdings Plc surged 9.99 per cent to N1,192.30, while Oando Plc advanced 9.33 per cent to N45.70, reflecting strong demand in the upstream and integrated energy space.
The NGX Industrial Index rebounded to 7,497.05 from 7,314.57. Heavyweights drove the recovery, with Dangote Cement Plc gaining 3.97 per cent to N809.90 and Lafarge Africa Plc rising 3.75 per cent to N207.50.
Overall, market breadth was positive, with several large-cap stocks across banking, oil and gas, and industrial goods pushing the All-Share Index to a new high for the period. Investors appeared to rotate into fundamentally strong sectors, particularly financial services and energy, lifting overall market capitalisation above N125tn again.
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