Stock Market Gains N1.424trn as Bullish Momentum Lifts Capitalisation Above N111trn

The Nigerian Exchange Limited (NGX) sustained its bullish momentum on Monday, recording a robust N1.424 trillion increase in market capitalisation as renewed investor confidence lifted the value of listed equities to N111.659 trillion.
The rally marked the sixth consecutive trading session of gains and signalled a strong start to the second week of February, with total market capitalisation decisively crossing the N111 trillion threshold for the first time.

The All-Share Index (ASI) surged by 2,218.73 points, representing a 1.29 per cent increase, to close at 173,946.22 points. This performance reflects broad-based buying interest, particularly in medium and large capitalised stocks.
Market gains were largely driven by renewed demand for heavyweight counters, including Dangote Cement, Aradel Holdings, Nigerian Aviation Handling Company (NAHCO), Skyway Aviation Handling Company, and Chemical and Allied Products (CAP), underscoring investors’ preference for fundamentally strong stocks amid improving sentiment.
Commenting on market outlook, United Capital Plc projected that the equity market would remain positive but selective, with sustained interest expected in Oil and Gas, Industrial Goods, ICT, Banking, and Brewery stocks. However, the firm cautioned that weaker sentiment may persist in Consumer Goods and Insurance stocks, while profit-taking following recent rallies could moderate further upside momentum in the near term.
Market breadth closed firmly positive, as 58 stocks advanced against 23 decliners, highlighting strong investor participation.
CAP, Daar Communications, and May & Baker Nigeria led the gainers’ table, appreciating by the maximum 10 per cent each to close at N90.20, N2.09, and N43.45 per share, respectively.
R.T. Briscoe (Nigeria) followed closely with a 9.98 per cent gain to close at N13.89, while Zichis Agro Allied Industry, NAHCO, and DEAP Capital Management & Trust rose by 9.97 per cent each to close at N7.39, N150.00, and N7.50 per share, respectively.
Conversely, Eunisell Interlinked topped the losers’ chart, shedding 9.98 per cent to close at N134.85 per share. Tripple Gee & Company declined by 8.90 per cent to N6.65, while Abbey Mortgage Bank fell by 8.03 per cent to close at N13.75 per share. Austin Laz & Company depreciated by 7.41 per cent to N5.00, and Haldane McCall lost 6.56 per cent to close at N3.99 per share.
Trading activity was mixed, as total volume declined by 18.72 per cent to 775.177 million units valued at N27.916 billion, executed across 65,960 deals. Access Holdings led the activity chart with 67.144 million shares traded, valued at N1.547 billion. Zenith Bank followed with 46.242 million shares worth N3.432 billion, while Secure Electronic Technology recorded trades of 43.943 million shares valued at N47.868 million.
Veritas Kapital Assurance traded 39.373 million shares valued at N91.609 million, while Mutual Benefits Assurance exchanged 33.893 million shares worth N145.669 million.

Source: LEADERSHIP