The Nigerian Exchange (NGX) maintained its upward momentum at the start of the week, with renewed investor appetite for blue-chip stocks driving the market to another positive close.
At the end of trading on Monday, the All-Share Index (ASI) advanced by 0.86 percent to close at 144,822.77 basis points, while market capitalisation rose by ₦786.24 billion to settle at ₦91.92 trillion. This sustained rally lifted the year-to-date return to 40.71 percent, reinforcing investor confidence in the Nigerian equities market.
The bullish performance was largely powered by gains in Seplat Energy (+10%), MTN Nigeria (+3.53%), and Guaranty Trust Holding Company (+3.29%), which helped offset losses recorded in UBA (-1.4%), Access Holdings (-1.89%), and Cadbury Nigeria (-1.99%).
Market sentiment remained upbeat, with 47 gainers outpacing 23 decliners. Axa Mansard Insurance topped the gainers’ chart with a 10 percent rise, followed by Seplat Energy (+10%), SFS Real Estate Investment Trust (+9.91%), Ellah Lakes (+9.95%), and Chams (+9.76%).
On the flip side, International Energy Insurance led the losers’ list, shedding 8.42 percent, while McNichols (-8.33%), Thomas Wyatt (-6.90%), Berger Paints (-6.25%), and Associated Bus Company (-5%) also recorded declines.
Sectoral performance was broadly positive, as all major indices closed in the green. The Oil and Gas index led the charge with a 3.35 percent gain, followed by Insurance (+3.13%), Commodities (+1.72%), Banking (+0.64%), and Consumer Goods (+0.12%), while the Industrial Goods index closed flat at 0.01 percent.
Despite the rally, overall trading activity moderated as investors adopted a more cautious stance. Trading volume dipped 4.56 percent to 519.92 million units, and transaction value declined 25.89 percent to ₦14.55 billion. However, number of deals surged 31.13 percent to 35,490, suggesting increased participation from retail investors and smaller trades.
Ellah Lakes emerged as the most traded stock by volume with 80.07 million units, while Guaranty Trust Holding Company (GTCO) led by value, recording ₦1.97 billion worth of shares exchanged.
