Equities market opens week with marginal dip, as oil & gas sector lead gains

The Nigerian equities market closed on a marginally negative note on Monday, as the benchmark index dipped by a slight 1 basis point, moderate enough to keep the year-to-date return robust at 60.85 percent.

Market activity presented a mixed bag for investors. Trading volume advanced by 2.36 percent to reach 798.7 million shares, indicating sustained market participation.

However, the total value of shares traded experienced a decline, dropping 14.25 percent to settle at ₦37.19 billion.

Despite the slightly dampened overall market performance, market breadth managed to stay positive.

The trading session concluded with 40 gainers against 39 decliners, reflecting a mild but resilient bullish sentiment across select equities.

On the sectoral front, the banking sector dominated total trading activity.

The United Bank for Africa (UBA) stood out as one of the most actively traded stocks by both volume and value.

Market analysts highlighted a noticeable increase in block trades and elevated investor interest in UBA and other tier-1 banking institutions, a trend that continues to reinforce liquidity within the banking ecosystem.

Meanwhile, the oil and gas sector emerged as the best-performing sector of the day. The sector posted a daily gain of 0.40 percent, maintaining an exceptional year-to-date return of 125.24 percent and confirming its position as a major driver of market growth.

At the close of the day’s session, Oando Plc and UPL Limited led the gainers’ table with strong performances. Conversely, NCR Nigeria Plc topped the laggards’ list, followed closely by ZICHIS Nigeria Plc as the second-largest decliner of the day.