Nigeria’s stock market opened the week on a positive note, with investors gaining approximately N514.97 billion on Monday as renewed bargain hunting strengthened the ongoing recovery on the Nigerian Exchange (NGX). The bullish sentiment followed weeks of profit-taking that had triggered a sharp market correction, prompting investors to return to fundamentally strong stocks at attractive prices.
At the close of trading, the NGX All-Share Index (ASI) advanced by 0.33 percent to settle at 243,396.25 points, while market capitalization climbed to N156.11 trillion. The latest rally reflects growing investor confidence in the market’s long-term prospects despite recent volatility. The rebound also pushed the market’s year-to-date return to an impressive 56.41 percent, reinforcing Nigeria’s position among the best-performing equity markets globally in 2026.
Market activity was significantly stronger during the session, with both retail and institutional investors increasing their participation. Trading volume surged by 22.63 percent to 746.18 million shares, while the value of transactions jumped by 81.26 percent to N58.06 billion. Positive demand for key stocks, including Oando, First HoldCo, MTN Nigeria, Eterna, Aradel Holdings, Zenith Bank, and GTCO, played a major role in sustaining the upward momentum.
Among the day’s standout performers, International Energy Insurance led the gainers’ chart after rising 9.92 percent to N7.98 per share. The Initiates Plc followed closely with a 9.91 percent gain, while ABC Transport, Abbey Mortgage Bank, and UPDC REIT also recorded strong advances. On the downside, Fidson Healthcare posted the steepest loss, declining 10 percent, alongside Academy Press, R.T. Briscoe, Sunu Assurances, and Learn Africa. Overall market breadth remained positive, with 32 gainers surpassing 30 losers.
Sectoral performance largely reflected the market’s bullish mood, led by the Oil and Gas Index, which gained 0.87 percent. Insurance, Banking, Commodity, and Consumer Goods sectors also closed in positive territory, while Industrial Goods recorded a marginal decline. Analysts say the latest recovery signals improving market stability after the recent correction that wiped more than N4 trillion from investor wealth. With institutional investors actively repositioning portfolios and bargain hunting expected to continue, market watchers remain cautiously optimistic about further gains in the coming weeks.
source: nairametrics