The Nigerian stock market maintained its upward trajectory on Monday, with the market capitalization surging by N228.48 billion , buoyed by strong performances from International Breweries , Cadbury Nigeria , and other blue-chip companies.
At the close of trading on the Nigerian Exchange Limited (NGX) , the market capitalization climbed to N66.7 trillion , up from N66.47 trillion in the previous session. The All-Share Index (ASI) advanced by 371.53 points or 0.35% , settling at 106,124.14 basis points .
A total of 500.59 million shares valued at N12.11 billion were traded in 17,637 deals , reflecting a 17% increase in trading volume and a 23% rise in the number of deals , despite a 40% decline in transaction value compared to the previous session.
Market Highlights
- Gainers : International Breweries led the gainers’ chart with a 10% surge , closing at N8.47 per share . Other notable performers included Legend Internet (+9.97%), Cadbury Nigeria (+9.96%), and Fidson Healthcare (+9.95%).
- Losers : On the downside, Livestock Feeds dropped by 10% , followed by Aradel Holdings (-9.86%) and Tripple Gee & Company (-9.6%).
Market breadth closed positively, with 47 stocks gaining against 17 losers , signaling broad-based optimism.
Sectoral Performance
Sectoral indices mirrored the bullish sentiment:
- Consumer Goods Index : Gained 2.38% , driven by International Breweries and Cadbury Nigeria .
- Banking Index : Rose 1.31% , fueled by renewed interest in banking stocks like Access Holdings , which topped the trading chart with 60.9 million shares exchanged .
- Insurance Index : Added 0.32% , reflecting moderate gains in the sector.
Trading Leaders
Access Holdings emerged as the most actively traded stock, exchanging 60.9 million shares , followed by Fidelity Bank (56.1 million), United Bank for Africa (34.5 million), and Guaranty Trust Holding Company (33.5 million).
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