The Nigerian Exchange (NGX) started the new trading week on a strong note, gaining N263 billion in market capitalisation as investors increased positions in key consumer goods and insurance stocks.
Notable performers included PZ Cussons Nigeria Plc and University Press Plc, driving optimism in the equities market.
At the close of trading on Monday, the market capitalisation of listed equities rose to N88.2 trillion, up from N87.9 trillion recorded in the previous session, reflecting a growth of N263 billion.
The benchmark All-Share Index (ASI) advanced by 414.74 points, or 0.3 per cent, to settle at 139,394.75 points, signalling renewed investor confidence after a subdued previous week.
Trading on Monday recorded a turnover of 947.83 million shares valued at N17.96 billion exchanged in 36,006 deals.
While this represented a 48 per cent decline in volume compared to the previous trading day, turnover improved by 12 per cent, and the number of deals jumped by 46 per cent, indicating more active participation by investors.
The market breadth closed positively, with 41 gainers against 18 losers.
Leading the gainers’ chart, PZ Cussons Nigeria rose 10 per cent to close at N35.20 per share, while University Press Plc also gained 10 per cent, finishing at N5.50 per share.
Ellah Lakes Plc rose 9.94 per cent to N14.27, and Legend Internet appreciated 9.90 per cent to N5.44 per share.
On the downside, Nigerian Enamelware Plc led the losers with a 10 per cent drop to N35.10 per share, followed by Industrial and Medical Gases Nigeria Plc, which also fell 10 per cent to N33.30 per share.
Union Dicon Salt Plc and Thomas Wyatt Nigeria Plc both shed 10 per cent, closing at N10.80 and N2.70 per share respectively.
In terms of volume, FCMB Group Plc dominated with 460.95 million shares valued at N4.73 billion, followed by Universal Insurance with 42.22 million shares worth N53.39 million.
Royal Exchange traded 35.22 million shares valued at N72.49 million, while Zenith Bank recorded 26.73 million units valued at N1.73 billion.
From a value perspective, FCMB again led, with trades worth N4.73 billion, followed by Zenith Bank (N1.73bn), GTCO (N1.60bn), Dangote Sugar (N1.41bn), and Nestle Nigeria (N930.13m).
Sectoral performance highlighted investor interest in insurance and consumer goods.
The NGX Insurance Index led the gainers with a 3.16 per cent rise, followed by the NGX Consumer Goods Index, which advanced 0.6 per cent.
The NGX Main Board Index increased 0.54 per cent, while the NGX Top 30 Index inched up 0.11 per cent.
The NGX Industrial Index added 0.02 per cent, but the NGX Oil and Gas Index closed flat, reflecting mixed sentiment in energy stocks.
Despite Monday’s positive session, NGX posted a one-week loss of 0.64 per cent and a four-week decline of 4.36 per cent.
Nevertheless, the year-to-date gain remains robust at 35.43 per cent, underscoring sustained investor appetite for select blue-chip stocks.
The previous week ended with a loss of N833 billion in market value, affected partly by a shortened trading week due to the Eid el-Maulud public holiday.
Market analysts suggest that the early-week gains signal renewed confidence in blue-chip consumer and financial stocks, as investors anticipate corporate earnings releases and stable macroeconomic conditions.
PZ Cussons’ strong performance, in particular, highlights investor optimism about the resilience of the consumer goods sector despite inflationary pressures.
Experts note that sustained gains will depend on liquidity in the market, sectoral performance, and geopolitical developments that could affect oil prices, foreign investment, and investor sentiment in the coming weeks.
As the Nigerian Exchange opens the week with a positive gain, stakeholders remain cautious yet hopeful.
While some sectors continue to face pressure, selective stock movements and renewed investor activity indicate a market finding balance between macroeconomic uncertainties and potential growth opportunities.
The current market trends underscore the importance of diversified portfolios, active monitoring of sectoral indices, and timely investment decisions to optimise returns in Nigeria’s dynamic equities market.
