Stocks Sustain Upward Trend As All Share Index Gains 1.65%

The Nigerian equities market extended its bullish momentum on Monday, recording another strong gain as sustained buying interest strengthened investor sentiment across the bourse.

The All-Share Index (ASI) gained 4,068.27 points, rising from 247,222.27 to 251,290.54, representing a 1.65 per cent increase. The advance reflects renewed investor confidence and sustained buying interest, with the benchmark index reclaiming the 250,000 level.

Consequently, equity market capitalization advanced by N2.64 trillion to N163.16 trillion from N160.52 trillion.

Trading activity was mixed compared to the previous session. Total traded volume declined by 46.1 per cent to 329.53 million units from 611.68 million units, while transaction value increased by 9.9 per cent to N25.45 billion from N23.14 billion. Deal count also advanced by 30.1 per cent to 43,700 transactions from 33,585.

The mixed performance across key activity indicators suggests stronger transaction value and increased deal activity despite lower traded volume.

As measured by market breadth, market sentiment was negative, as 24 stocks gained relative to 30 losers. On the gainers’ chart, Dangote Cement led with 10.00 per cent to close at N1,222.10, per share. Honeywell Flour Mills followed with a gain of 9.78 per cent to close at N19.65, while Royal Exchange rose by 9.18 per cent to close at N1.07, per share.

Nigerian Exchange Group up by 8.20 per cent to close at N165.00, while First HoldCo rose 7.56 per cent to close at N155.00, per share.

On he other side, ABC Transport led the losers’ chart, shedding 9.59 per cent to close at N6.60, per share. Caverton Offshore Support Group followed, declining 9.38 per cent to close at N4.35, while Livestock Feeds lost 9.09 per cent to close at N15.50, per share.

Champion Breweries dipped 8.16 per cent to close at N9.00, while PZ Cussons Nigeria fell 7.61 per cent to close at N63.70, per share.

Analysts noted that the session was characterized by strong bullish sentiment and mixed trading activity, as the market recorded a significant gain and moved back above the 250,000-point threshold.

United Capital Plc said, “the Nigerian equities market may remain sensitive to profit-taking and sector-specific movements this week.

“However, moderating inflation and expectations of lower fixed-income yields could improve equities’ appeal to investors. Investors are likely to focus on third-quarter earnings, dividend prospects and company-specific developments when making investment decisions. Banking and industrial stocks may attract attention, while profit-taking could limit broader market gains.”