Nigerian Exchange (NGX) rebounded on Monday as renewed buying interest in key stocks lifted investors’ wealth by ₦514.97 billion, reversing part of the losses recorded in recent sessions.
At the close of trading, the market capitalisation rose by 0.33 per cent to ₦156.11 trillion, while the All-Share Index (ASI) gained 798.94 points to settle at 243,396.25, strengthening the market’s year-to-date return to 56.41 per cent.
The positive performance came despite recent market volatility that had wiped out more than ₦4 trillion from investors’ holdings.
Trading activity also improved significantly, reflecting stronger participation from both institutional and retail investors.
A total of 746.18 million shares were exchanged during the session, representing a 22.6 per cent increase from the previous trading day.
The value of transactions surged by 81.3 per cent to ₦58.06 billion, while the number of deals climbed by 36.2 per cent to 75,217.
International Energy Insurance led the gainers’ chart after its share price appreciated by 9.92 per cent. It was followed by The Initiates Plc, which rose by 9.91 per cent, ABC Transport gained 9.68 per cent, Abbey Mortgage Bank advanced by 9.63 per cent, while UPDC REIT added 8.91 per cent.
On the losers’ table, Fidson Healthcare recorded the highest decline, shedding 10 per cent of its value. Academy Press fell by 9.70 per cent, R.T. Briscoe lost 9.43 per cent, Sunu Assurances declined by 9.38 per cent, while Learn Africa dropped by 8.70 per cent.
Sectoral performance was broadly positive, with the Oil and Gas Index advancing by 0.87 per cent, the Insurance Index gaining 0.62 per cent, Banking Index rising by 0.59 per cent, Commodities Index increasing by 0.37 per cent and Consumer Goods Index appreciating by 0.10 per cent. The Industrial Goods Index, however, slipped marginally by 0.003 per cent.
Market turnover was dominated by heavyweight stocks, with Dangote Cement accounting for ₦29.77 billion, representing more than half of the total value traded during the session. FCMB Group emerged as the most actively traded stock by volume, recording 157.8 million shares, equivalent to 21.15 per cent of total transactions.
Market analysts attributed the rebound to renewed bargain hunting in fundamentally strong stocks, including Oando, MTN Nigeria, Zenith Bank, GTCO and Aradel Holdings. They expressed optimism that positive sentiment could persist in the near term as investors continue to rebalance their portfolios and position for emerging opportunities in the market.
