Equities investors gain N78.6bn at NGX as bulls persist

Nigerian equities market opened the week on a bullish note, as renewed investor interest lifted the NGX All-Share Index (ASI) by 0.09 per cent to close at 145,880.77 points, pushing the year-to-date (YTD) return to 41.73 per cent.

This positive start reflects sustained optimism around market fundamentals and earnings expectations.

Consequently, market capitalisation rose by 0.09 percent to N92.29 trillion, adding N79.6 billion to investors’ portfolios.

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Investor sentiment remained upbeat, with market breadth closing positive as 40 stocks advanced against 34 decliners, underscoring the ongoing tussle between bargain hunters and profit-takers.

Notable gainers included AIICO Insurance, Sunu Assurance Nigeria, Veritas Kapital Assurance, Stanbic IBTC Holdings, and The Initiates, each appreciating by 10 per cent.

On the flip side, Abbey Mortgage Bank, ABC Transport Services UACN Nigeria, Haldane McHall and VFD Group were among the top laggards, shedding 10.00 percent, 9.99 percent, 9.92 percent, and 9.70 per cent, respectively.

Sector performance was mixed. The Banking and Insurance indices closed in positive territory, buoyed by renewed buying interest and earnings-driven optimism to, thus increaing in value by 0.44 percent and 9.74 percent, respectively.

Conversely, Oil/Gas and Industrial Goods came under mild selling pressure, dipping by 0.56 percent and 1.47 percent, respectively; while the Consumer Goods index ended flat.

Overall market activity moderated, as trading volume and value declined by 4.52 percent percent and 40.17 per cent, respectively, even though the number of deals rose by 15.41 per cent.

A total of 2.115 billion shares worth N19.4 billion exchanged hands across 40,435 deals.

Looking ahead, analysts believed the Insurance sector remained in focus, given its reform-driven outlook and recent price momentum, adding that the market might witness further portfolio rotations as investors reposition based on evolving sectoral opportunities, corporate earnings expectations, and macroeconomic cues.