The Nigerian Exchange Limited (NGX) opened the week on a positive note as market capitalisation surged by N247.21 billion on Monday, underpinned by renewed investor interest in insurance and banking stocks. The All-Share Index rose 0.26 per cent to 147,427.92 points, extending last week’s upbeat momentum and bringing year-to-date gains to 43.24 per cent.
Trading activity was notably robust, with investors exchanging 550.84 million shares in 30,065 deals valued at N13.83 billion. Compared with last Friday, trading volume rose 52 per cent and the number of deals increased by 43 per cent, though turnover experienced a slight 7 per cent dip. Market breadth closed positive, with 43 stocks advancing against 16 losers. Morison Industries led the gainers with a 9.89 per cent rise, followed closely by NPF Microfinance Bank, Sovereign Trust Insurance, and Caverton Offshore Support Group.
On the losing side, Daar Communications recorded the steepest decline, shedding 7.14 per cent to close at N0.91 per share. Other notable decliners included Livestock Feeds, Nigerian Aviation Handling Company, and Union Dicon Salt. Despite these losses, strong trading activity was seen in FCMB Group, Japaul Gold, Zenith Bank, and Fidelity Bank, while Zenith Bank topped the value chart with N2.71 billion in trades.
Sector performance mirrored the overall market optimism, with the Insurance Index climbing 1.83 per cent and the Banking Index rising 0.94 per cent. The Premium, Top 30, Pension, and Industrial Goods indices also recorded gains, reflecting broad-based investor confidence in the financial services and insurance sectors. Analysts note that sustained bargain-hunting and year-end portfolio adjustments are key drivers of the positive momentum.
The NGX’s strong start follows last week’s market rally, which saw a N2.44 trillion increase in capitalisation led by ICT and banking stocks. With improved investor sentiment and active trading in key sectors, experts expect the positive trend to continue into the closing weeks of 2025, presenting opportunities for both long-term investors and short-term traders.
source: Punch