Equities Market Starts The Week Strong As Investors Gain N471.4bn

The Nigerian Exchange Limited (NGX) opened the week on a bullish note, as the All-Share Index (ASI) climbed by 0.79%, closing at 104,418.95 basis points. This surge pushed the year-to-date (YTD) return to 1.45%, signaling a positive start for investors.

Market capitalization also followed an upward trend, rising 1.24% to N64.44 trillion. This boost was largely due to the listing of 4,705,800,290 ordinary shares of Guaranty Trust Holding Company Plc (GTCO) at N44.50 per share, adding a remarkable N471.4 billion to the equities market by the close of the session. As a result, the overall YTD return settled at +1.5%.

Investor Sentiment: Bulls Take Charge

Market sentiment remained optimistic, with 38 stocks gaining against 30 decliners. The top-performing stocks of the day included:

Beta Glass (+9.98%)
RT Briscoe (+9.92%)
Access Holdings (+9.88%)
Chellaram (+9.83%)
Sky Aviation Handling Company (+9.80%)

On the flip side, the biggest losers were:

MRS Oil Nigeria Plc
Transcorp Hotel
Eunisell Interlinked
John Holt Plc
Caverton Offshore Support Group

Sectoral Performance: Mixed Reactions Across Boards

The market’s performance varied across different sectors:

✅ Gainers:

Banking Index ⬆ 4.71%
Consumer Goods Index ⬆ 1.74%
Commodity Index ⬆ 0.39%

❌ Decliners:

Insurance Index ⬇ 0.95%
Oil & Gas Index ⬇ 0.89%
Industrial Goods Index ⬇ 0.03%

Trading Volume and Activity Surge

The session saw a 52.42% increase in the number of deals, with a total of 17,196 transactions, while the total traded value jumped 54.72% to N13.3 billion. However, the total volume of shares traded dropped by 9.01%, settling at 518.28 million units.

🔹 Most Traded Stocks by Volume:

Access Holdings (51 million units across 1,053 deals)

🔹 Most Traded Stock by Value:

Zenith Bank (Contributing N1.7 billion to total trade value)

Conclusion: Bullish Sentiments Prevail

The equities market kicked off the week on a strong footing, driven by renewed investor confidence and strategic listings. With positive movements in the banking and consumer goods sectors, investors are optimistic about sustained momentum in the coming sessions.

Will the market sustain its bullish trend, or will sell-offs pull it back? Stay updated with the latest stock market movements!