Equities Market Extends Rally as Investors Gain ₦1.4trn
The Nigerian Exchange (NGX) opened the week on a strong note as equities investors recorded ₦1.4 trillion in gains on Monday, driven by sustained bargain hunting and positive sentiment across key sectors.
The NGX All-Share Index rose by 1.29 per cent, adding 2,218.73 basis points to close at 173,946.22, while market capitalisation increased by ₦1.42 trillion to settle at ₦111.66 trillion.
The rally builds on last week’s surge of over ₦4 trillion in market capitalisation, underscoring renewed investor appetite for industrial and mid-cap stocks ahead of earnings season and dividend declarations.
The industrial goods sector led performance with a 4.76 per cent gain, followed by Oil & Gas at 1.29 per cent and Consumer Goods at 0.74 per cent. Banking and Insurance sectors slipped marginally by 0.04 per cent and 0.03 per cent, respectively.
Trading activity slowed, however, as total volume declined by 18.72 per cent and transaction value dropped 35.21 per cent. Analysts reported that 775.18 million units worth ₦27.92 billion were exchanged across 65,960 deals. ACCESSCORP accounted for the highest trade volume at 8.70 per cent, while ZENITHBANK dominated value with 12.34 per cent of total transactions.
Market breadth closed positive with 58 gainers against 26 losers. Top performers included several stocks that gained 10 per cent each, while the worst performers saw declines of up to 9.98 per cent.
For investors, the rally signals strong momentum in heavyweight sectors, particularly industrials, where expectations of robust earnings and dividend payouts continue to fuel market optimism. With capitalisation firmly above ₦111 trillion, analysts say the NGX remains positioned for further upside if sentiment holds through the earnings season.
