The Nigerian equities market maintained a positive trajectory as investor sentiment remained optimistic, driving light bargain-hunting positioning across select mid-cap and blue-chip counters with solid underlying fundamentals. Strong demand in key market heavyweights pushed the Nigerian Exchange (NGX) All-Share Index (ASI) up by 0.25%, adding 604.22 basis points to settle at 246,992.44 points.
Correspondingly, aggregate equity market capitalization expanded by N405.67 billion to close at N159.56 trillion. Market breadth, however, closed on a negative note with 28 gainers against 31 decliners, indicating selective positioning rather than broad-based market expansion.
Market Activity, Volume, and Value Leaders
Trading activity surged significantly across the floor, with total volume traded jumping by 416.66% to 2,242.42 million shares. Total transaction value surged 150.55% to N73,411.30 million across 42,709 executed deals.
- Volume Drivers: FTG Insurance dominated trading activity, accounting for 71.33% of total volume traded, followed by United Bank for Africa (5.51%), Consolidated Hallmark Holdings (2.59%), Zenith Bank (1.52%), and Access Holdings (1.24%).
- Value Leader: United Bank for Africa (UBA) topped the turnover value chart, contributing 14.84% of total transaction value executed on the exchange.
- Key Market Catalysts: Buying interest in Aradel Holdings, Nigerian Breweries, Stanbic IBTC Holdings, and MTN Nigeria Communications provided the primary upward thrust for the index.
Top Gainers, Laggards, and Sectoral Overview
Abbey Mortgage Bank and Royal Exchange led the gainers chart, advancing by 10.00% each, followed by Nigerian Breweries (+9.93%), John Holt (+9.89%), DAAR Communications (+9.68%), Ellah Lakes (+9.09%), and Champion Breweries (+8.64%). On the decliners chart, Red Star Express and HM Call recorded the steepest losses, dropping 10.00% each, trailed by IMG (-9.97%), Juli (-9.66%), University Press (-9.09%), Sovren Insurance (-8.82%), and Beta Glass (-8.21%).
Sectoral performance was predominantly bullish, with three out of five major sectors closing higher. The Consumer Goods sector led gains with a 1.28% rise, supported by Oil & Gas (+1.12%) and Banking (+0.44%). Conversely, the Insurance and Industrial Goods indices retreated by 1.05% and 0.64% respectively.
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