The Nigerian stock market opened the week on a strong note, with the Nigerian Exchange Limited (NGX) gaining N443 billion in market value amid renewed investor appetite for equities.
Data from the trading session showed that the All-Share Index rose by 688.43 points, representing a 0.34 per cent increase to close at 204,458.86 points. Market capitalisation consequently climbed to ₦131.6 trillion, signalling improved investor confidence despite prevailing economic pressures.
Market breadth remained positive, with 31 gainers outperforming 24 losers. The rally was driven largely by buying interest in medium- and large-cap stocks, including Guinness Nigeria, Nigerian Exchange Group, Stanbic IBTC Holdings and Nigerian Breweries.
Among the top performers, Nigerian Exchange Group recorded the highest gain, rising by 10 per cent to close at ₦153.45 per share. Trans-Nationwide Express followed with a 9.81 per cent increase, while McNichols Consolidated posted a 9.74 per cent gain. Other notable advancers included VFD Group and Chams Holding Company.
However, losses were recorded in some counters, with Berger Paints leading the laggards after shedding 9.95 per cent. Academy Press and Caverton Offshore Support Group also declined, alongside Honeywell Flour Mills and CAP.
Trading activity weakened slightly, as total volume fell by 14.33 per cent to 470 million units valued at ₦32.4 billion. The banking sector dominated transactions, with Access Holdings, GTCO and Zenith Bank accounting for a significant share of traded volumes.
Analysts at United Capital Plc said the market is expected to remain “selectively constructive” in the near term, with investors shifting focus to fundamentally strong, dividend-paying stocks.
They, however, cautioned that high bond yields and persistent inflation could limit broader market gains, as investors continue to weigh fixed-income opportunities against equities.
Despite the rally, blue-chip stocks such as Dangote Cement and Lafarge Africa closed flat, reflecting a cautious but optimistic outlook among market participants.
