The Nigerian equity market started the week on a positive note, gaining N79 billion due to the appreciation of 32 stocks. By the close of trading on Monday, the market capitalization rose by 0.14% to reach N56.5 trillion, while the All-Share Index (ASI) increased by 138.61 points, settling at 98,386.60 points. This development pushed the year-to-date return of the market to an impressive 31.58%.
A total of 410.43 million shares, worth N5.51 billion, were exchanged across 10,669 deals. Despite the 26% drop in trading volume and a significant 46% decrease in turnover, the number of deals increased by 23%, indicating more active participation in the market.
FCMB Group and McNichols were the top performers of the day, each recording a 10% increase in value, closing at N8.80 and N1.87, respectively. Fidelity Bank followed closely, gaining 9.93% to end at N14.95. Other notable gainers included Tantalizers, which saw a 9.84% rise to N0.67, Flour Mills of Nigeria with a 9.81% gain to N55.40, and Caverton, appreciating by 9.76% to close at N4.05.
However, the market also witnessed some losses. Berger Paints led the group of decliners, dropping 9.83% to N21.10. Daar Communications followed with a 9.33% dip to N0.68, and Deap Capital fell by 9.09% to close at N0.90.
In terms of trading volume, Transcorp Nigeria led the market, with 66.8 million shares traded. Fidelity Bank followed with 43.1 million shares, Access Holdings recorded 25.1 million shares, and NPF Microfinance Bank rounded out the top drivers with 24.6 million shares traded.
The day’s performance shows resilience in the Nigerian equity market, with increased market participation despite lower volumes and turnover, indicating positive investor sentiment across several sectors.
