The Nigerian Exchange Limited (NGX) closed the first trading day of the week slightly higher, adding about N3bn to market capitalisation as investors traded cautiously amid mixed sectoral sentiment.
Market capitalisation rose to approximately N95.3tn, while the All-Share Index (ASI) advanced marginally by 4.62 points to close at 149,437.88. The modest uptick reflected mild buying interest, even as market activity weakened.
A total of 553.16 million shares valued at N13.27bn were exchanged in 28,888 deals. This represented a three per cent decline in trading volume and a 54 per cent drop in turnover compared with the previous session, although the number of deals increased by 42 per cent. Analysts attributed the subdued activity to cautious positioning, portfolio rebalancing and profit-taking in some large-cap stocks.
Market breadth closed positive, with 28 stocks gaining against 23 losers, while others ended the session unchanged. Sovereign Trust Insurance Plc topped the gainers’ chart, rising by 10 per cent to close at N3.74 per share. Guinness Nigeria Plc followed with a 9.96 per cent increase to N239.50, while MeCure Industries Plc advanced by 9.88 per cent to N41.70. First HoldCo Plc gained 9.86 per cent to close at N34.55, alongside notable gains recorded by AIICO Insurance Plc and Alex Industries Plc.
On the decliners’ side, Prestige Assurance Plc led the losses after shedding 10 per cent to close at N1.53 per share. FTN Cocoa Processors Plc fell by 8.16 per cent to N4.50, while Guinea Insurance Plc declined by 7.69 per cent to N1.08. Royal Exchange Plc dropped by 7.25 per cent to N1.79, and Nigerian Breweries Plc lost 6.86 per cent to close at N76.75, reflecting profit-taking pressure.
Sectoral performance was mixed during the session. Gains in the banking and insurance indices provided support for the broader market, while some industrial and consumer goods stocks recorded mild losses. The Banking Index rose by 0.89 per cent and the Insurance Index increased by 0.87 per cent, while the Top 30 Index dipped slightly by 0.08 per cent.
In terms of activity, FCMB Group Plc emerged as the most traded stock by volume, with 92.04 million shares exchanged, followed by Access Holdings Plc with 67.93 million shares. Consolidated Hallmark Holdings Plc recorded 50.78 million shares traded, while Fidelity Bank Plc and Jaiz Bank Plc also featured among the most active counters. By value, Vitafoam Nigeria Plc led transactions, followed by Access Holdings Plc, GTCO Plc, First HoldCo Plc and FCMB Group Plc.
Market analysts said the modest N3bn gain highlighted cautious investor sentiment amid mixed macroeconomic signals, expectations around corporate earnings and uncertainty over policy direction. They noted that while the market’s fundamentals remain strong, near-term trading may continue to be shaped by selective positioning and profit-taking until clearer catalysts emerge.
Overall, the slight rise in the ASI and market capitalisation pointed to underlying resilience in the equities market, despite restrained trading activity.
Meanwhile, investors traded a total of 4.37 billion shares valued at N97.78bn in 110,736 deals on the NGX last week, lower than the 6.62 billion shares worth N113.22bn exchanged in the preceding week. Despite the slowdown, the market posted strong gains, with the ASI and market capitalisation rising by 1.63 per cent and 1.64 per cent to close the week at 149,433.26 points and N95.26tn, respectively.
