Nigeria’s equities market closed higher, with the benchmark NGX All-Share Index (ASI) and total market capitalisation advancing by 1.44 per cent each, as renewed buying interest in major stocks lifted overall market performance.
The positive close was driven by strong gains in Mansard Insurance (MANSARD), Sovereign Trust Insurance (SOVRENINS) and Dangote Cement (DANGCEM), which appreciated by 9.75 per cent, 9.74 per cent and 9.61 per cent, respectively.
Their gains offset losses recorded in Thomas Wyatt Nigeria (THOMASWY), University Press (UPL) and FTG Insurance (FTGINSURE), which declined by 9.62 per cent, 8.70 per cent and 7.38 per cent, respectively.
Sectoral performance was largely positive, with the Industrial Goods index leading the market’s advance after rising by 5.68 per cent. The Insurance index followed with a 1.28 per cent gain, while the Banking and Oil and Gas indices advanced by 0.25 per cent and 0.22 per cent, respectively.
The Consumer Goods index was the only sector to close lower, shedding 0.03 per cent, indicating that the day’s gains were broadly supported by activity across major segments of the market.
Trading activity also strengthened, as investors increased their participation in the equities market. Total volume traded rose by 20.03 per cent to 453.31 million units, while transaction value increased by 13.71 per cent to N30.55 billion.
The number of deals executed during the session also climbed by 31.30 per cent to 42,891, reflecting an increase in trading activity compared with the preceding session.
Access Holdings (ACCESSCORP) led the volume chart, with 39.01 million shares exchanged, representing the highest volume recorded by an individual stock. Seplat Energy (SEPLAT), which closed unchanged, dominated the value chart with transactions worth N5.20 billion.
Despite the overall market advance, market breadth remained negative at 0.69, as 25 stocks appreciated against 36 decliners. MANSARD led the gainers’ table, while THOMASWY recorded the steepest decline.
The session’s performance highlights the influence of gains in selected heavyweight and sector-specific stocks on the broader market, even as the higher number of declining equities suggests that the rally was not evenly distributed across listed companies.
Investors will continue to monitor price movements in leading stocks, sectoral trends and trading activity for indications of whether the market’s positive momentum can be sustained in subsequent sessions.
