Nigerian Stock Market Opens Week Higher on Strong Investor Sentiment
- The Nigerian stock market opened the week on a bullish note, with the NGX All-Share Index rising 0.58%
- Market sentiment was broadly positive, with 49 gainers led by Sovereign Insurance, while 19 stocks declined
- Trading activity surged, with 1.15 billion shares valued at N19.23 billion exchanged across 59,359 deals
Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
The Nigerian stock market began the new trading week on a positive note, extending gains from earlier weeks.
The benchmark All-Share Index (NGXASI) rose by 0.58% intraday, supported by strong investor interest in stocks including NCR, IMG, Maybaker, Honeywell Flour, WAPCO, FirstHoldCo, NGX Group, NB, Aradel, Cadbury, PZ, Access Holdings, Transcorp, ETI, Wema Bank, GTCO, Custodian, and others.
Source: Getty Images
The index closed Monday at 163,244.69 points, up from 162,298.08 points on the previous trading day.
Investors’ wealth increased by N744.99 billion, bringing market capitalisation to N104.52 trillion.
Market sentiment was broadly bullish, with 49 gainers led by Sovereign Insurance, against 19 decliners led by Fidelity Bank.
Several stocks traded above their 52-week highs, including McNichols at N6.05, DeapCap at N3.30, Jaiz Bank at N6.18, and NCR at N87.90.
Market activity
Total traded volume rose 84.17% to 1.15 billion shares, valued at N19.23 billion across 59,359 deals. Sovereign Insurance recorded the highest volume at 307.47 million units, representing 26.75% of total shares traded.
Fidelity Bank had the highest traded value at N3.14 billion, accounting for 16.32% of total market value.
Fidelity Bank and Link Assurance together contributed 24.11% of total volume, while Aradel and Zenith Bank were among the top contributors by value.
Top gainers
- Etranzact: N16.50, up N1.50 (10.00%)
- UPDC: N5.50, up N0.50 (10.00%)
- McNichols: N6.05, up N0.55 (10.00%)
- Red Star Express: N11.55, up N1.05 (10.00%)
- RT Briscoe: N3.96, up N0.36 (10.00%)
Top losers
- Champion Breweries: N15.05, down N1.40 (8.51%)
- Eunisell: N156.20, down N13.60 (8.01%)
- Ikeja Hotel: N36.80, down N3.20 (8.00%)
- Guinea Insurance: N1.27, down N0.10 (7.30%)
- Omatek: N1.24, down N0.04 (3.13%)
Source: Getty Images
Most active stocks
- Sovereign Insurance: 307.47 million shares, N1.00 billion
- Fidelity Bank: 158.39 million shares, N3.14 billion
- Link Assurance: 118.73 million shares, N213.87 million
- Mutual Benefits: 31.49 million shares, N130.43 million
- Lasaco: 31.01 million shares, N79.61 million
16 banks meet CBN's capital requirement
Earlier, Legit.ng reported that With about 100 days left until the March 31, 2026 deadline for Nigeria’s banking sector recapitalisation, banks are working against time to meet the CBN’s minimum requirements.
There are suggestions that several banks could be forced to close if they are unable to meet the deadline.
However, the Association of Corporate Communication and Marketing Professionals in Banks (ACAMB) has dismissed the rumours, stating that as many as 12 banks face imminent closure, describing such claims as false and dangerous.
In a statement signed by its president, Rasheed Bolarinwa, ACAMB warned that such alarmist narratives are misleading and harmful.
Source: Legit.ng
