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Investors in the Nigerian Exchange Limited (NGX) kicked off the week on a positive note as bullish trading on Monday lifted the market capitalisation by ₦786bn to close at ₦91.9tn, extending the bourse’s winning streak.
Despite a slight dip in trading volume and turnover, the market continued to ride on renewed investor confidence, largely driven by price appreciation in heavyweight stocks such as Seplat Energy Plc and AXA Mansard Insurance Plc.
At the close of trading, the All-Share Index (ASI) rose by 1,238.71 points, representing a 0.86 per cent gain, to settle at 144,822.75 points. This marks a 1.89 per cent weekly gain, a 4.2 per cent increase in four weeks, and an impressive 40.71 per cent rise year-to-date, underscoring a strong bullish sentiment in the equities market.
According to NGX data, investors exchanged 519.9 million shares worth ₦14.53bn across 35,467 deals. Although this reflected a 5 per cent drop in volume and a 26 per cent decline in turnover, the number of deals climbed 31 per cent compared with the previous session — an indication of heightened retail and institutional participation.
Out of 128 equities traded, 47 gained, 24 declined, and the rest remained unchanged.
Seplat Energy Plc topped the gainers’ chart, appreciating by 10 per cent to close at ₦5,917.20 per share. It was followed closely by AXA Mansard Insurance Plc, which also rose 10 per cent to ₦15.84 per share.
Other major gainers included Skye Shelter Fund (₦381.10, +9.97%), Ellah Lakes Plc (₦14.81, +9.95%), Chams Holding Company Plc (₦4.23, +9.87%), and Omatek Ventures Plc (₦1.34, +9.84%).
On the losers’ list, International Energy Insurance Plc led with a decline of 8.42 per cent to ₦2.72 per share, followed by McNichols Plc (-8.31%, ₦3.20) and Thomas Wyatt Nigeria Plc (-7.72%, ₦2.99). Berger Paints Plc shed 6.8 per cent to ₦37.00, ABC Transport Plc fell 5.81 per cent to ₦4.05, while C&I Leasing Plc dipped 3.23 per cent to ₦6.00 per share.
In terms of volume, Ellah Lakes Plc dominated with 80.07 million shares worth ₦1.18bn, followed by Chams Holding Company Plc with 30.21 million shares valued at ₦127.26m. Sterling Bank Plc traded 24.74 million shares worth ₦205.65m, while Custodian & Allied Plc recorded 21.83 million shares valued at ₦903.74m.
Guaranty Trust Holding Company Plc (GTCO) led in value with ₦1.97bn worth of traded shares, ahead of Seplat Energy Plc (₦1.65bn), Aradel Holdings Plc (₦1.21bn), Ellah Lakes Plc (₦1.18bn), and Zenith Bank Plc (₦1.12bn).
Across sectors, performance was broadly positive:
- Oil and Gas Index gained 3.35 per cent,
- Insurance Index advanced 3.13 per cent,
- Premium Index appreciated 2.06 per cent,
- Pension Index rose 1.23 per cent, and
- Banking Index climbed 0.64 per cent.
Market analysts attributed the rally to strong investor sentiment in fundamentally sound stocks and renewed interest in oil and insurance equities, buoyed by improved sectoral performance and favourable market dynamics.
Last week, the NGX closed the first week of October on a high, with investors gaining ₦1.18tn in a four-day trading week shortened by the Independence Day public holiday. The ASI rose 1.02 per cent to 143,584.04 points, while market capitalisation appreciated 1.31 per cent to ₦91.135tn, up from ₦89.955tn in the previous week.
The continued rally highlights growing investor confidence and optimism that Nigeria’s equity market may sustain its upward trajectory into the final quarter of 2025.
