Nigeria’s equities market sustained its upward momentum on Monday, with total market capitalisation surpassing ₦160 trillion amid renewed investor confidence and strong buying activity.
The market recorded a gain of ₦3.162 trillion, representing a 2.01 per cent increase, as capitalisation rose from ₦157.094 trillion in the previous session to ₦160.256 trillion.
Similarly, the NGX All-Share Index advanced by 5,709.71 points to close at 250,485.54, further boosting the market’s year-to-date return and reflecting sustained bullish sentiment.
Trading activity remained broadly positive, with 59 stocks recording gains compared to 21 decliners, highlighting strong investor appetite across multiple sectors.
Key gainers during the session included RT Briscoe, FTN Cocoa Processors, Livestock Feeds Plc, CHAMS Plc, and International Energy Insurance, each posting gains of up to 10 per cent.
Conversely, notable declines were recorded by Prestige Insurance, Sovereign Trust Insurance, University Press Plc, Ellah Lakes Plc, and Tantalizers Plc.
Market turnover also improved significantly, with a total of 1.49 billion shares valued at ₦68.45 billion traded across 94,834 transactions, indicating heightened participation.
In terms of volume, Veritas Kapital Assurance Plc led the market with 194.63 million shares exchanged, accounting for 13.10 per cent of total traded volume. By value, MTN Nigeria Communications Plc dominated trading, recording transactions worth ₦12.39 billion.
Commenting on the market performance, David Adonri, Vice President of Highcap Securities, attributed the rally to improving macroeconomic conditions, increased liquidity, and stronger investor sentiment.
He noted that many stocks closed with strong bid positions, indicating aggressive buying interest across the market. According to him, previous concerns surrounding MTN Nigeria—partly driven by xenophobia-related sentiment—have eased, with investors increasingly recognising the company’s substantial local ownership.
Adonri further explained that rising crude oil prices, improved energy supply, and expanding money supply have contributed to the influx of liquidity into the equities market, thereby supporting the ongoing rally.
