The Nigerian Exchange (NGX) sustained its positive run on Monday, opening the new trading week on a cautious but firm note as gains in banking and insurance stocks outweighed losses in consumer and energy counters.

Market indicators showed marginal improvement, with the All-Share Index (ASI) edging up by 0.003 per cent to close at 149,437.88 points. In tandem, market capitalisation inched higher by N2.93 billion to settle at N95.27 trillion, reflecting mild investor accumulation despite mixed sectoral performance.

Market sentiment remained bullish, as reflected in a positive market breadth, with 28 stocks advancing against 23 decliners. This indicates selective bargain-hunting by investors, particularly in financial services stocks, even as overall trading activity weakened in value terms.

Leading the gainers’ chart were Sovereign Trust Insurance, Guinness Nigeria, Mecure Industries, FirstHoldCo and AIICO Insurance, buoyed by renewed buying interest. On the flip side, Prestige Assurance, FTN Cocoa Processors, Guinea Insurance, Royal Exchange and Nigerian Breweries recorded the steepest price declines, pressured by profit-taking and cautious positioning.

Sectoral performance closed the session mixed. The Banking Index emerged as the strongest performer, rising by 0.89 per cent, driven by demand for tier-one and select mid-tier banking stocks. The Insurance Index also posted a solid gain of 0.87 per cent, extending recent momentum in the sector.

Conversely, the Consumer Goods Index declined by 0.79 per cent, weighed down by losses in major brewery and food stocks, while the Oil and Gas Index dipped slightly by 0.05 per cent. The Industrial Goods and Commodities indices ended the session flat, indicating a wait-and-see approach among investors in those sectors.

Trading activity painted a mixed picture. Total share volume traded on the Exchange fell by 3.24 per cent to 563.16 million units, while transaction value dropped sharply by 54.31 per cent to N13.27 billion, suggesting reduced participation by large institutional investors. However, the number of deals surged by 41.58 per cent to 28,907 transactions, pointing to increased activity by retail investors and short-term traders.

Overall, analysts say the market’s subdued but positive close reflects cautious optimism, with investors positioning ahead of earnings updates and macroeconomic signals while closely monitoring sector-specific opportunities for near-term gains.

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