Renewed investor interest pushes Nigerian stock market to ₦94 trillion valuation
The Nigerian Exchange Limited (NGX) kicked off the new trading week on a strong note as renewed demand for insurance and banking stocks pushed total market capitalisation up by ₦247.21 billion on Monday.
At the close of trading, market capitalisation climbed to ₦94 trillion, while the benchmark All-Share Index (ASI) gained 0.26 per cent to settle at 147,427.92 points, extending the bullish momentum recorded in the previous week. The market has now posted a 2.95 per cent week-on-week gain and an impressive 43.24 per cent year-to-date return.
Trading Activity Strengthens
Investor participation improved significantly, with 550.84 million shares exchanged in 30,065 deals, valued at ₦13.83 billion. Compared to the previous session on December 5, trading volume rose by 52 per cent, while the number of deals increased by 43 per cent, although turnover dipped slightly by 7 per cent.
Market breadth closed positive, with 43 gainers outweighing 16 losers, reflecting broad-based buying interest.
Top Gainers and Losers
Morison Industries led the gainers’ chart, advancing 9.89 per cent to close at ₦3.89 per share. It was closely followed by NPF Microfinance Bank (+9.85%), Sovereign Trust Insurance (+9.31%), and Caverton Offshore Support Group (+9.18%).
On the downside, Daar Communications topped the losers’ list after shedding 7.14 per cent to close at ₦0.91. Livestock Feeds declined by 6.25 per cent, while Nigerian Aviation Handling Company and Union Dicon Salt fell by 6.10 per cent and 4.76 per cent, respectively.
Most Traded Stocks
In terms of volume, FCMB Group led trading activity with 129.65 million shares, followed by Japaul Gold (63.74 million), Zenith Bank (41.99 million), and Fidelity Bank (36.91 million).
On the value chart, Zenith Bank dominated with trades worth ₦2.71 billion, while MTN Nigeria, FCMB Group, Fidelity Bank, and AccessCorp also recorded strong turnover.
Sectoral Indices End in the Green
Sector performance mirrored the market’s positive tone. The Insurance Index gained 1.83 per cent, while the Banking Index rose 0.94 per cent. Other indices, including Premium, Top 30, Pension, and Industrial Goods, also closed higher.
Outlook: Year-End Optimism Drives Market
Market analysts attribute the positive start to the week to sustained investor confidence, particularly in financial services and insurance stocks, which continue to attract bargain hunters amid year-end portfolio rebalancing.
The upbeat sentiment follows a strong finish last week, when ICT and banking stocks lifted the market by ₦2.44 trillion, pushing market capitalisation to ₦93.72 trillion and driving the All-Share Index up by 2.45 per cent.
