By Isaac Mission
The Nigerian equities market started the week on a positive note as investors’ wealth increased by about ₦1.91 trillion, following a strong upward movement in the benchmark NGX All-Share Index.
Market capitalisation climbed from ₦158.513 trillion at the beginning of Monday’s trading session to ₦160.421 trillion at the close, representing a gain of approximately ₦1.908 trillion.
The NGX All-Share Index (ASI) also advanced by 2,956.15 points, gaining 1.20 per cent to settle at 248,529.75 points, compared with 245,573.60 points recorded at the previous session.
However, the broader market did not move entirely in the same direction. Trading data showed that 23 stocks gained while 37 recorded losses, reflecting a cautious and selective approach among investors despite the strong performance of the overall index.
Top-performing stocks
FTGINSURE emerged as the strongest gainer, appreciating by 10 per cent from ₦2.60 to ₦2.86 per share.
It was followed by:
CHAMS – up 9.80% from ₦4.08 to ₦4.48
NAHCO – up 9.29% from ₦140.00 to ₦153.00
AIRTELAFRI – up 8.59% from ₦5,801.40 to ₦6,300.00
SOVRENINS – up 6.59% from ₦1.67 to ₦1.78
Biggest losers
On the losing side, AVACAP recorded the steepest decline, falling 10 per cent from ₦11.00 to ₦9.90.
Other major decliners were:
ETI – down 9.92% from ₦72.10 to ₦64.95
CAVERTON – down 9.09% from ₦5.50 to ₦5.00
IKEJAHOTEL – down 8.41% from ₦47.00 to ₦43.00
FTNCOCOA – down 8.37% from ₦8.84 to ₦8.10
Despite the gains recorded by the benchmark index, investor activity remained uneven, with market participants moving funds between individual stocks based on performance, valuation and short-term opportunities.
Insurance, technology, aviation and telecommunications counters attracted renewed buying interest, while some stocks that had performed strongly in recent sessions came under pressure from profit-taking.
The contrasting movements indicate that investors are still taking a cautious approach, seeking opportunities in stocks showing strong momentum while securing profits from counters that have already recorded substantial gains.
Attention will now turn to the next trading session, with investors watching to see whether the ASI can maintain its upward momentum and whether buying interest will spread more broadly across the market.
