The Nigerian equity market kicked off the week on a strong note, with bullish activity lifting the NGX’s total market value by ₦228.48 billion on Monday. The positive sentiment was largely driven by gains in top consumer goods firms including International Breweries and Cadbury Nigeria.

Data from the Nigerian Exchange Limited (NGX) showed that the market capitalisation closed at ₦66.7 trillion, up from ₦66.47 trillion in the previous session. The All-Share Index (ASI) also advanced by 0.35%, adding 371.53 points to close at 106,124.14.

Trading activity showed a mixed trend. While volume climbed 17% to 500.59 million shares, and the number of deals rose 23% to 17,637, total transaction value dropped by 40% to ₦12.11 billion—highlighting strong investor interest but at lower price points.

Gainers far outpaced laggards, with 47 stocks recording price appreciation compared to 17 losers. International Breweries led the pack, surging 10% to close at ₦8.47 per share. Cadbury Nigeria followed closely with a 9.96% jump to ₦29.25, while Legend Internet and Fidson Healthcare also posted impressive gains, rising 9.97% and 9.95% respectively.

On the downside, Livestock Feeds topped the losers’ chart with a 10% drop to ₦8.55. Aradel Holdings shed 9.86% to close at ₦448.00, while Tripple Gee and John Holt lost 9.6% and 7.94% respectively.

Access Holdings dominated trade volumes for the session, with 60.9 million shares exchanged. Fidelity Bank (56.1 million), UBA (34.5 million), and GTCO (33.5 million) also saw robust activity.

Sector-wise, the bullish momentum was reflected across major indices. The Consumer Goods Index jumped 2.38% thanks to gains in key players like International Breweries and Cadbury. The Banking Index rose 1.31% amid renewed interest in bank stocks, while the Insurance Index gained a modest 0.32%.

Market sentiment continues to improve, buoyed by strong performances in consumer and financial sectors. According to The PUNCH, the NGX recorded a cumulative gain of ₦966 billion in market capitalisation in recent sessions, pointing to growing investor confidence in Nigeria’s equity space.


(Wafric News)