The Nigerian equities market closed the first weekday of trading on a modest positive note, with the Nigerian Exchange Limited adding about ₦3 billion in value as investors maintained a cautious stance. Market capitalisation edged up to approximately ₦95.3 trillion, while the All-Share Index (ASI) rose marginally by 4.62 points to settle at 149,437.88, signalling mild buying interest despite subdued sentiment across sectors.
Trading activity, however, remained weak. A total of 553.16 million shares valued at ₦13.27 billion were exchanged in 28,888 deals, reflecting a three per cent decline in volume and a sharp 54 per cent drop in turnover compared with the previous session. Interestingly, deal count jumped by 42 per cent, indicating selective positioning as investors balanced portfolio rebalancing with profit-taking in large-cap stocks.
Market breadth closed positive, with 28 equities advancing against 23 decliners, while the rest ended flat. Sovereign Trust Insurance Plc topped the gainers’ chart with a 10 per cent increase, followed closely by Guinness Nigeria Plc, MeCure Industries Plc and First HoldCo Plc, all posting strong price appreciation. AIICO Insurance Plc and Alex Industries Plc also recorded notable gains during the session.
On the flip side, Prestige Assurance Plc led the losers after shedding 10 per cent, while FTN Cocoa Processors Plc, Guinea Insurance Plc and Royal Exchange Plc also declined. Nigerian Breweries Plc fell by nearly seven per cent, reflecting profit-taking in select consumer goods stocks as investors locked in recent gains.
Sectoral performance was mixed, with banking and insurance stocks providing support as their indices rose by 0.89 per cent and 0.87 per cent respectively, while the Top 30 Index dipped slightly. Analysts noted that the modest ₦3bn gain underscores cautious optimism, driven by mixed macroeconomic signals and expectations around earnings and policy direction. They added that while the market remains fundamentally resilient, near-term trading is likely to stay selective until clearer catalysts emerge.
source: punch