The Nigerian Exchange (NGX) opened the week on a bullish note, sustaining positive momentum from the previous session as investors’ appetite for blue-chip stocks drove the benchmark index higher.

The All-Share Index (ASI) gained 0.86 percent to close at 144,822.77 basis points, while market capitalisation rose by N786.24 billion to N91.92 trillion. This performance lifted the year-to-date return to 40.71 percent, underscoring renewed investor confidence in the equities market.

The rally was primarily fueled by gains in Seplat Energy, MTN Nigeria and Guaranty Trust Holding Company, as they appreciated by 10 percent, 3.53 percent and 3.29 percent, respectively; which offset declines in UBA down by 1.4 percent, Access Holdings by 1.89 percent and Cadbury by 1.99 percent.

Market sentiment remained firmly positive, as 47 stocks advanced against 23 decliners. On the performance board, Axa Mansard Insurance ld he gainers chart having appreciated by 10 percent, followed by Seplat Energy also with 10 percent increase; SFS Real Estate Investment Trust added 9.91 percent, Ellah Lakes went up by 9.95 percent, and Chams added 9.76 percent.

Meanwhile, International Energy Insurance went down by 8.42 percent, McNichols down by 8.33 percent, Thomas Wyatt declined by 6.90 percent, Berger Paints dipped by 6.25 percent, and Associate Bus Company depreciated by 5 percent.

Sectoral performance was broadly positive, with all major indices closing in the green. The Oil and Gas index led with a 3.35 percent gain, followed by Insurance by 3.13 percent, Commodities up by 1.72 percent, Banking by 0.64 percent, and Consumer Goods by 0.12 percent, while the Industrial Goods index closed flat at zero point zero one percent.

However, trading activity declined as investors adopted a cautious stance. Total trading volume fell 4.56 percent to 519.92 million units, while transaction value dropped 25.89 percent to N14.55 billion. Despite the pullback, trading frequency surged 31.13 percent to 35,490 deals, reflecting a rise in smaller transactions.

Ellah Lakes emerged as the most traded stock by volume, accounting for 80.07 million units, while Guaranty Trust Holding Company led by value with N1.97 billion worth of shares exchanged.

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