 opened the week on a bullish note, with investors gaining about ₦1.76 trillion in a single session.){kind=link}
NGX Investors Gain ₦1.76trn as Rally Extends
The Nigerian Exchange (NGX) opened the week on a bullish note, with investors gaining about ₦1.76 trillion in a single session as market capitalisation rose to ₦158.81 trillion.
The All-Share Index (ASI) climbed 1.12% to close at 246,183.96 points, driven by strong buying interest in banking, industrial, and insurance stocks. Year-to-date returns advanced to 58.20%, while month-to-date returns rose to +7.3%.
Trading activity strengthened, with 851.63 million shares worth ₦49.59 billion exchanged across 56,873 deals, representing increases in volume, value, and transactions compared to the previous session.
First HoldCo was the standout performer, surging 9.95% to ₦105.50, well above its previous 52-week high of ₦87.25.
The stock accounted for nearly a quarter of total trading volume and over 43% of value, buoyed by its half-year results showing ₦653.5 billion pre-tax profit.
Other heavyweight gainers included BUA Cement (+9.98%), NGX Group (+6.63%), UBA (+6.37%), Guinness Nigeria (+3.34%), Zenith Bank (+2.37%), and Access Holdings (+2.00%).
On the losers’ side, Sunu Assurances (-10.00%), Tripple Gee (-9.77%), ABC Transport (-9.62%), Abbey Mortgage Bank (-9.00%), and Wapic Insurance (-7.69%) led declines.
Sectoral performance was broadly positive, with the Banking Index (+3.14%) and Industrial Index (+2.82%) leading gains, while Consumer Goods and Commodities closed flat. Market breadth was balanced, with 31 gainers against 30 losers.
Analysts expect momentum to continue, supported by institutional demand and portfolio rebalancing, though profit-taking in recently appreciated stocks like First HoldCo and BUA Cement may temper further gains.