Stocks Rally as Investors Add N443bn in Renewed Buying Spree
By Matthew Eloyi
The Nigerian equities market opened the week on a bullish note, delivering strong gains to investors as renewed buying interest swept across key stocks and lifted overall market performance.
At the close of trading, investors recorded a gain of N443 billion, pushing total market capitalisation from N131.165 trillion to N131.608 trillion, a 0.34 per cent increase. The upbeat sentiment also reflected in the All-Share Index, which climbed by 688.43 points to settle at 204,458.86, representing a similar 0.34 per cent rise.
Market analysts attributed the rally to heightened demand for mid- and large-cap stocks, particularly NGX Group, Trans-Nationwide Express, MC Nichols, VFD Group, and CHAMS, alongside several others that attracted fresh investor interest.
The positive momentum further strengthened the market’s Year-to-Date return, which rose to 31.39 per cent. Market breadth closed firmly in positive territory, with 32 gainers outweighing 24 losers, a signal of sustained investor confidence.
Leading the gainers’ chart, NGX Group surged by 10 per cent to close at N153.45, while Trans-Nationwide Express followed closely with a 9.81 per cent increase to N4.14. MC Nichols rose by 9.74 per cent to N7.10, VFD Group gained 9.71 per cent to settle at N11.30, and CHAMS advanced by 8.96 per cent to close at N3.65 per share.
However, not all stocks shared in the optimism. Berger Paints recorded the steepest decline, shedding 9.95 per cent to close at N68.35. Academy Press dropped by 9.71 per cent to N7.90, while Caverton Offshore Support Group fell by 5.98 per cent to N5.50. Honeywell Flour Mills declined by 4.92 per cent to N20.30, and CAP lost 3.81 per cent to close at N96 per share.
Despite the price gains, trading activity slowed compared to the previous session. Total volume traded declined by 14.33 per cent to 470.01 million shares, valued at N32.45 billion across 60,793 deals.
Access Corporation emerged as the most traded stock by volume, accounting for 54.91 million shares, or 11.68 per cent of the day’s transactions. Meanwhile, Aradel Holdings led the value chart with trades worth N7.05 billion, representing 21.74 per cent of the total value exchanged.
Overall, the session underscored a resilient market outlook, with investor appetite remaining strong despite a dip in trading volume, a sign that confidence in Nigerian equities may continue to drive momentum in the days ahead.
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