The Nigerian equities market began the week on a strong footing on Monday as renewed buying interest across banking, industrial and oil and gas stocks lifted investors’ wealth by more than N3 trillion, pushing the market’s year-to-date return above 50 per cent.

The benchmark Nigerian Exchange Limited (NGX) All-Share Index (ASI) advanced by 2.15 per cent to close at 234,178.23 points, while market capitalisation rose by approximately N3.17 trillion to N150.27 trillion, extending the market’s impressive rally in 2026.

The latest gain lifted the market’s year-to-date return to 50.49 per cent, up from 47.31 per cent at the close of last week, reflecting sustained investor confidence amid continued portfolio rebalancing and strategic positioning.

The rally was driven by strong buying in heavyweight stocks including First HoldCo Plc, Lafarge Africa Plc, Dangote Cement Plc, Aradel Holdings Plc, MTN Nigeria Communications Plc, Wema Bank Plc and Nigerian Exchange Group Plc, which outweighed profit-taking in Zenith Bank Plc, Nigerian Aviation Handling Company Plc and Vitafoam Nigeria Plc.

Market analysts noted that the impressive performance reflected broad-based demand, with virtually all major sectoral indices closing in positive territory. The Industrial Goods Index led the advance with a gain of 4.89 per cent, followed by Oil and Gas (4.22 per cent), Banking (3.05 per cent), Insurance (2.70 per cent), Commodity (2.70 per cent) and Consumer Goods (0.57 per cent).

Investor sentiment remained firmly positive, as gainers significantly outnumbered losers. Between 51 and 58 stocks appreciated during the session, depending on market data, compared with 11 to 14 decliners, with First HoldCo Plc and Wema Bank Plc emerging among the top-performing equities after both gained the maximum 10 per cent. On the losing side, Nigerian Aviation Handling Company Plc and Vitafoam Nigeria Plc shed 10 per cent each to lead the laggards.

Trading activity also strengthened considerably, underscoring heightened market participation. A total of about 538.64 million shares valued at N38.70 billion changed hands in more than 64,000 deals, representing significant increases in trading volume, value and transaction count over the previous session.

Zenith Bank Plc dominated market activity despite closing lower, accounting for the highest traded volume of 89.46 million shares and transaction value of N9.77 billion.

Analysts expect the positive momentum to be sustained in the near term as investors continue to reposition portfolios in anticipation of stronger corporate earnings and attractive opportunities across fundamentally sound stocks. They noted that continued institutional demand and sector rotation could provide further support for the market’s ongoing recovery.

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