Market News
Equities market opens week positive as investors earn $598mln - NIGERIAN TRIBUNE
The Industrial Goods sector advanced by 1.30 per cent, while the Commodity sector rose by 0.71 per cent
Nigerian equities market sustained its bullish momentum on Monday, as the benchmark All-Share Index (ASI) advanced by 0.65 per cent to close at 196,263.55 points.
This upward movement lifted the year-to-date return to 25.12 per cent, reflecting sustained investor appetite for equities amid improving market liquidity.
Market capitalisation rose in tandem with the index, appreciating by 0.64 per cent to close at N125.97 trillion.
Investors gained approximately N804.56 billion during the trading session. The expansion in market value came despite the suspension of Zichi Integrated Services Limited from the Nigerian Exchange trading platform, underscoring the resilience of broader market sentiment.
Market breadth closed slightly negative at 0.97x, as 34 stocks declined compared to 33 that advanced, indicating mild profit-taking activities across some counters. Leading the gainers’ chart were FTG Insurance Plc, Okomu Oil Palm Company Plc, Fidson Healthcare Plc, Nigeria Police Microfinance Bank Plc, and Infinity Trust Mortgage Bank Plc, all of which recorded significant price appreciations.
On the losers’ table, Tripple Gee & Company Plc, Deap Capital Management & Trust Plc, LivingTrust Mortgage Bank Plc, Multiverse Mining & Exploration Plc, and Ellah Lakes Plc posted the steepest declines, reflecting sell-side pressure in those equities.
Sectoral performance was largely positive, with four of the six key indices are closing in the green.
The Insurance sector led the rally with a 3.42 per cent gain, buoyed by renewed investor interest in insurance counters.
The Banking index followed with a 1.44 per cent increase, supported by sustained demand for major banking stocks.
The Industrial Goods sector advanced by 1.30 per cent, while the Commodity sector rose by 0.71 per cent.
Conversely, the Consumer Goods and Oil & Gas sectors recorded marginal losses of 0.11 per cent and 0.20 per cent respectively, weighed down by selective sell-offs.
Trading activity strengthened significantly, reflecting heightened market participation. Total share volume surged by 57.07 per cent to 1.29 billion units, while the total value of transactions climbed 11.21 per cent to N31.50 billion.
The number of executed deals also rose sharply by 49.73 per cent to 95,091 transactions.
Overall, the market’s strong start to the week reinforces its positive trajectory, with robust liquidity and sector rotation likely to continue shaping investor sentiment in the near term.
