The Nigerian Exchange (NGX) opened the trading week on a strong bullish note on Monday, as renewed buying interest in select high-capitalization equities added over N1.91 trillion to overall investor wealth. Driven by strategic position-building across key sector heavyweights, the domestic bourses extended recent gains, lifting primary performance indicators higher even as broader market breadth reflected underlying caution.
Benchmark Index Performance and Market Activity
The benchmark NGX All-Share Index (ASI) advanced by 1.21% to settle at 248,529.75 points, up from its previous closing level. Consequently, the stock market's year-to-date (YTD) return improved to an impressive +59.71%. Total equity market capitalization expanded in tandem, increasing by N1.91 trillion to close at N160.42 trillion.
However, market turnover metrics weakened relative to the preceding trading session. Aggregate volume traded dropped significantly by 48.16% to 787.1 million units, while total transaction value decreased by 4.36% to N25.5 billion. In terms of volume, FTG Insurance Plc (FTGINSURE) topped the activity chart with 307.3 million units traded, accounting for 39.05% of total market volume. Meanwhile, First HoldCo Plc (FIRSTHOLDCO) dominated the value chart, recording trades worth N5.1 billion, representing 20.08% of total daily turnover value.
Gainers, Laggards, and Investor Sentiment
Despite the substantial advance in the benchmark index, overall market sentiment remained bearish. Market breadth closed at 0.6x, as 36 decliners comfortably outnumbered 23 gainers across the floor. Index gains were heavily concentrated in major large-cap stocks, anchored by strong appreciation in Airtel Africa Plc (+8.59%), International Breweries Plc (+6.36%), Access Holdings Plc (+4.08%), United Bank for Africa Plc (+3.01%), and Guaranty Trust Holding Company Plc (+1.56%).
On the individual stock performance log, FTG Insurance (+10.00%) emerged as the top gainer of the day, whereas AVA Capital (-10.00%) led the laggards list following profit-taking activities.
Sectoral Indices Overview
Sectoral performance was predominantly negative, with four indices closing in the red. The Insurance Index fell 1.64% following pullbacks in Cornerstone Insurance Plc (-7.96%), while the Banking Index slipped 0.24%, weighted down by selloffs in First HoldCo (-2.34%). Additionally, the Oil & Gas (-0.09%) and Industrial Goods (-0.05%) indices eased lower, dragged down by price drops in Oando Plc (-2.10%) and HB MFB (-0.31%), respectively.
Conversely, the Consumer Goods Index bucked the market trend, gaining 0.76% on account of price upticks in International Breweries (+6.36%). The Commodity Index closed the session flat.
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