The Nigerian equities market kicked off the week with strong momentum, adding ₦122.45 billion to market capitalization. The rally was largely powered by impressive gains in the insurance sector, which significantly outperformed all other segments.
Market Overview
The All-Share Index (ASI) climbed 193.56 points to close at 145,948.47, representing a 0.13% gain. Market capitalization now stands at ₦92.34 trillion, reflecting renewed investor confidence.
Sector performance showed:
- Insurance: +9.74% 🚀 (sector leader)
- Consumer Goods: +0.98%
- Banking: +0.44%
- Industrial Goods: -1.47%
- Oil & Gas: -0.56%
Trading Activity
While the market advanced, trading volume and value dipped slightly—down 4.52% and 40.17%, respectively.
Nigerian Exchange (NGX) data revealed:
- Volume traded: 2.12 billion shares
- Value traded: ₦19.4 billion
- Deals executed: 40,435
Top volume leader: LINKASSURE (33.28% of shares traded)
Top value leader: STANBIC (8.93% of total value traded)
Top Gainers
Several stocks hit the maximum daily gain of 10%, with the insurance sector dominating the list:
- AIICO, SUNUASSUR, VERITASKAP, STANBIC, TIP, UNIVINSURE, UPDC (+10% each)
- CORNERST: +9.98%
- MANSARD: +9.97%
- ELLAHLAKES: +9.94%
Top Losers
Despite the bullish start, some stocks faced heavy sell pressure:
- ABBEYBDS: -10%
- ABCTRANS: -10%
- UACN: -9.99%
- VFDGROUP: -9.70%
- WAPCO: -9.28%
Market Breadth
The market breadth was positive, with 40 gainers outpacing 36 losers—a sign that bullish sentiment is still intact despite mixed sector performance.