Nigeria’s stock market started the new trading week on a strong and positive note as increased buying activity pushed share prices higher across major sectors of the market. Investors showed renewed confidence in medium and large-cap stocks, helping the market record a massive N906 billion gain in overall value.
At the close of trading, the Nigerian Exchange All-Share Index (ASI) rose by 1,412.65 points, representing a 0.57 percent increase. The index settled at 251,125.02 points, reflecting continued bullish sentiment among investors.
Market capitalisation also increased significantly, climbing to N160.983 trillion. The rise indicates growing interest from investors who continue to reposition their portfolios in expectation of stronger returns.
Several major companies contributed to the market rally through impressive price gains. Among the top performers were Airtel Africa, Oando, Union Dicon Salt, Red Star Express, and Computer Warehouse Group (CWG). Their strong performances helped lift the broader market during the trading session.
Market indicators also showed that the positive momentum remains strong. Analysts noted that month-to-date returns improved to 3.7 percent, while year-to-date returns climbed to an impressive 61.4 percent. This reflects the market’s steady recovery and increasing investor optimism.
Trading data showed that buying interest was widespread, as 35 stocks recorded gains while 30 stocks declined. The positive market breadth suggests that investors remained active across different sectors of the exchange.
Airtel Africa emerged as the biggest gainer of the day after its share price rose by 10 percent to close at N3,655.70 per share. International Energy Insurance followed closely with a 9.68 percent increase, while Sovereign Trust Insurance gained 9.65 percent.
Other strong performers included Caverton Offshore Support Group and VFD Group, which appreciated by 9.63 percent and 9.55 percent respectively. The gains recorded by these companies further strengthened the overall market performance.
Despite the bullish outing, some companies ended the session on a negative note. McNichols recorded the highest loss after its share price dropped by 10 percent. Other companies that closed lower included The Initiates Plc (TIP), Learn Africa, Zichis Agro Allied Industries, and May & Baker Nigeria.
Meanwhile, overall trading activity slowed compared to the previous session. The total volume of traded shares dropped by 30.2 percent to 497.09 million units. The value of trades stood at N31.62 billion, exchanged in 74,129 deals.
Access Holdings recorded the highest trading volume for the day with 61.291 million shares valued at N1.525 billion. Zenith Bank followed with 37.932 million shares worth N4.989 billion, while Fidelity Bank traded 35.796 million shares valued at N851.162 million.
Other actively traded stocks included Japaul Gold & Ventures and Tantalizers, both of which attracted notable investor attention during the session.
Analysts at Cowry Assets Management Limited expressed optimism that the market could maintain its positive momentum in the coming days. According to the firm, improving investor confidence and continued portfolio adjustments are likely to support further gains in the near term.
