The Nigerian equities market began the week on a strong footing, with investors gaining a substantial ₦786 billion at the close of trading on Monday, driven by renewed buying interest in key stocks.
The rally was largely propelled by price appreciation in major players, notably AXA Mansard Insurance, Seplat, and Skye Shelter Fund Plc.
This momentum saw the benchmark All-Share Index (ASI) rise by 0.86 per cent to close at 144,822.77 points, up from 143,584.04 points recorded on Friday. Consequently, the market capitalisation climbed to ₦91.9 trillion, an increase from the previous session’s ₦91.1 trillion.
Market breadth was positive, registering 48 gainers against 23 decliners out of a total of 35,490 deals. AXA Mansard Insurance and Seplat both led the gainers’ chart with a 10 per cent increase, closing at ₦15.84 and ₦5,917.20, respectively, while Skye Shelter Fund Plc appreciated by 9.97 per cent to close at ₦381.10 per share.
Conversely, International Energy Insurance, McNichols, and Thomas Wyatt Plc topped the losers’ list, shedding 8.42 per cent, 8.31 per cent, and 7.72 per cent, respectively.
In terms of trading activity, Ellah Lakes Plc emerged as the most traded stock by volume with 80 million shares exchanged in 931 deals. This was followed by Chams Plc and Sterling Bank Plc, which recorded 30 million and 24 million shares traded, respectively. On the value index, Guaranty Trust Holding Company Plc (GTCO) led the market, with equities worth ₦1.9 billion traded in 1,430 deals. It was trailed by Seplat Petroleum Development Company Plc at ₦1.6 billion and Aradel Holdings Plc at ₦1.2 billion.
The strong start to the week reflects growing investor confidence and sustained momentum in the local bourse, supported by positive sentiment across key sectors.