The domestic equities market kicked off the trading week on a strong and confident note, extending its bullish momentum as renewed investor appetite lifted key bellwether stocks and pushed market indicators higher.

The Nigerian Exchange (NGX) All-Share Index (ASI) rose by 1.3 per cent to close at 173,946.22 basis points, underscoring sustained optimism in the market despite mixed activity across sectors.

This performance translated into improved returns, with the Month-to-Date (MTD) and Year-to-Date (YTD) gains settling at 5.2 per cent and 11.8 per cent, respectively, reinforcing the view that equities remain firmly in favour among investors seeking real returns.

Market performance was largely underpinned by strong price appreciation in heavyweight stocks, particularly Dangote Cement, which rallied by 8.8 per cent, and Transnational Corporation of Nigeria (Transcorp), which gained 5.2 per cent.

The rally in Dangote Cement provided significant support to the Industrial Goods sector, reflecting renewed positioning in fundamentally strong stocks with earnings resilience and pricing power. Similarly, the advance in Transcorp signalled sustained interest in conglomerate stocks, driven by expectations of improved earnings and corporate restructuring benefits.

Market breadth remained firmly positive, signalling healthy sentiment. A total of 57 stocks recorded price appreciation against 25 decliners, translating to a positive breadth ratio of 2.3 times.

May & Baker Nigeria Plc and CAP Plc topped the gainers’ chart with maximum gains of 10.0 per cent each, reflecting strong buying interest. On the flip side, Tripple Gee & Company Plc and Abbey Mortgage Bank Plc led the losers, shedding 8.9 per cent and 8.0 per cent, respectively.

Sectoral performance was mixed, reflecting selective investor positioning. The Industrial Goods index led the gainers, advancing by 4.8 per cent, buoyed by gains in cement stocks.

The Oil and Gas index followed with a 1.3 per cent increase, supported by renewed interest in upstream and integrated energy plays, while the Consumer Goods index edged up by 0.7 per cent amid cautious accumulation. In contrast, the Banking and Insurance indices closed in negative territory, weighed down by profit-taking and concerns around margin pressures in a high-interest-rate environment.

However, trading activity moderated compared to the previous session, as total market volume declined by 18.7 per cent to 775.18 million units, valued at N27.92 billion and executed in 65,960 deals. Despite the slowdown in volumes, trading remained broad-based.

Access Holdings Plc emerged as the most actively traded stock by volume, with 67.14 million shares changing hands, while Zenith Bank Plc led the value chart, accounting for trades worth N3.43 billion. This highlights continued institutional interest in tier-one banking stocks, even as the broader banking sector recorded marginal losses.

Overall, the market’s positive opening to the week suggests sustained bullish undertones, supported by selective accumulation in fundamentally strong stocks, even as investors remain cautious and discerning amid evolving macroeconomic conditions.

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