The rally, despite mixed global cues, reflected sustained investor confidence and broad-based accumulation across key sectors.
Market capitalisation advanced to NGN 91.93 trillion, underscoring improved sentiment and sustained demand for blue-chip equities. A total of 519.90 million shares valued at NGN 14.54 billion were traded in 35,467 deals. While market turnover and volume dipped by 26 per cent and 5 per cent respectively from the previous session, the number of executed deals increased by 31 per cent — signalling heightened investor activity and diversification.
Sectoral Performance
The NGX Oil & Gas Index topped sectoral performance with a 3.35 per cent rise, followed closely by the NGX Insurance Index, which advanced 3.13 per cent. The NGX Premium Index appreciated 2.06 per cent, the NGX Pension Index rose 1.23 per cent, and the NGX Banking Index edged up 0.64 per cent. The NGX Top 30 and other composite indices also closed in positive territory, indicating a strong start to the week.
Top Gainers
Seplat Energy PLC and AXA Mansard Insurance PLC emerged as the top gainers, each appreciating by 10.00 per cent to close at NGN 5,917.20 and NGN 15.84 respectively. SFS Real Estate Investment Trust rose 9.97 per cent to NGN 381.10, while Ellah Lakes PLC climbed 9.95 per cent to NGN 14.81. Other notable gainers included Chams Holding Company PLC (+9.87 per cent), Omatek Ventures PLC (+9.84 per cent), and Sovereign Trust Insurance PLC (+9.82 per cent).
Top Losers
Conversely, 24 stocks closed negative, led by International Energy Insurance PLC, which dropped 8.42 per cent to NGN 2.72. McNichols PLC followed with an 8.31 per cent decline to NGN 3.20, while Thomas Wyatt Nigeria PLC fell 7.72 per cent to NGN 2.99. Berger Paints PLC shed 6.80 per cent to NGN 37.00, Associated Bus Company PLC lost 5.81 per cent to NGN 4.05, C&I Leasing PLC decreased 3.23 per cent to NGN 6.00, and Aradel Holdings PLC weakened 3.09 per cent to NGN 630.00.
Market Activity
Ellah Lakes PLC led trading by volume with 80.07 million shares worth NGN 1.18 billion, followed by Chams Holding Company PLC with 30.21 million shares valued at NGN 127.26 million. Sterling Financial Holdings Company PLC traded 24.74 million shares valued at NGN 205.65 million, while Custodian Investment PLC, GTCO, and Access Holdings PLC also witnessed active participation.
By number of trades, Sterling Financial Holdings Company PLC topped with 2,003 transactions, followed by MTN Nigeria Communications PLC (1,752), Access Holdings PLC (1,750), United Bank for Africa PLC (1,499), GTCO (1,430), and Zenith Bank PLC (1,411).
Market Outlook
Analysts attributed the market’s positive performance to dividend declarations, sectoral resilience, and renewed investor confidence ahead of corporate earnings releases. However, they noted that persistent inflationary pressure and forex market volatility could influence near-term market direction. Despite these headwinds, sentiment remains upbeat, buoyed by strong fundamentals in key sectors and growing domestic participation.
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