The Nigerian equities market began the week on a resounding bullish note on Monday, as investors recorded a historic gain of N5.103 trillion in a single trading session, pushing total market capitalisation beyond the N122 trillion mark.
At the close of trading, the benchmark All-Share Index (ASI) of the Nigerian Exchange Limited surged by 7,949.36 basis points, representing a 4.36 per cent increase to settle at 190,262.44 points.
Correspondingly, market capitalisation rose by N5.103 trillion to close at N122.130 trillion, underscoring renewed investor appetite for equities.
The rally was largely driven by strong gains in medium and large capitalised stocks, notably Nestle Nigeria, Presco, Aradel Holdings, Dangote Cement and MTN Nigeria Communications.
Imperial Asset Managers Limited attributed the surge to sustained demand for heavyweight stocks, stating that following the 4.36 per cent jump, bullish momentum is expected to persist in the near term, buoyed by strong investor appetite.
Similarly, Coronation Asset Management projected cautious optimism in the sessions ahead, as investors await additional full-year earnings releases and dividend declarations.
The firm noted that market direction would likely hinge on earnings surprises, dividend yields and sector-specific developments, with selective positioning in fundamentally sound counters.
Market breadth closed firmly positive, with 54 gainers against 28 decliners.
Among the top performers were ABC Transport, Beta Glass, Ikeja Hotels, McNichols, Oando, Jaiz Bank, Aradel Holdings and Zichis Agro Allied Industries, which recorded the maximum 10 per cent appreciation to close at N8.25, N453.20, N41.80, N8.47, N44.00, N9.13, N1,096.70 and N111.88 per share, respectively.
MTN Nigeria gained 9.99 per cent to close at N779.70, while AXA Mansard Insurance rose by 9.97 per cent to N16.99 per share.
On the losers’ chart, R.T. Briscoe led with a 9.99 per cent decline to close at N15.68 per share. DEAP Capital Management & Trust shed 9.91 per cent to N7.64, while Caverton Offshore Support Group fell 9.62 per cent to N7.05 per share.
Guinea Insurance dropped 9.27 per cent to N1.37, and Tantalizers declined by 8.11 per cent to close at N5.10 per share.
Trading activity also strengthened, with total volume rising by 13.46 per cent to 1.076 billion units valued at N64.026 billion across 64,821 deals.
Access Holdings led the activity chart with 86.725 million shares worth N2.259 billion. Oando followed with 73.496 million shares valued at N3.186 billion, while Zenith Bank recorded 69.281 million shares traded at N5.934 billion.
Mutual Benefits Assurance transacted 67.101 million shares valued at N289.113 million, while Japaul Gold & Ventures accounted for 49.172 million shares worth N135.594 million.
