Nigeria’s equities market opened the week on a bullish note, adding ₦122.45 billion in market value as key indices closed higher, driven largely by strong performances in the insurance sector.
The All-Share Index (ASI) advanced by 193.56 points to close at 145,948.47, representing a 0.13% gain. Market capitalisation rose to ₦92.34 trillion. Sector performance was mixed, with insurance leading the pack with a 9.74% surge, followed by consumer goods (+0.98%) and banking (+0.44%). Conversely, industrial goods fell 1.47%, while oil & gas dipped 0.56%.
Market Activity
Trading activity slowed, with volume down 4.52% and value dropping 40.17%. Data from the Nigerian Exchange showed 2.12 billion shares worth ₦19.4 billion exchanged in 40,435 deals.
- Most Active: Linkage Assurance (LINKASSURE) accounted for 33.28% of total volume traded.
- Highest Value: Stanbic IBTC Holdings (STANBIC) led value transactions with 8.93% of turnover.
Top Gainers
AIICO Insurance, SUNU Assurance, Veritas Kapital Assurance, Stanbic IBTC, The Initiates Plc (TIP), Universal Insurance, and UPDC all gained 10%. They were followed by Cornerstone Insurance (+9.98%), AXA Mansard Insurance (+9.97%), and Ellah Lakes (+9.94%).
Top Losers
On the downside, Abbey Mortgage Bank (ABBEYBDS) and Associated Bus Company (ABCTRANS) shed 10% each. UACN declined 9.99%, VFD Group lost 9.70%, while Lafarge Africa (WAPCO) fell 9.28%.
Market breadth remained positive, with 40 gainers outpacing 36 losers.
