Stock market extends bullish momentum
The Nigerian equities market continued its strong rally on Monday as the All-Share Index crossed the 250,000-point mark for the first time.
Investors gained more than N3 trillion amid sustained buying interest in major stocks across different sectors.
Data from Nigerian Exchange Limited showed that the All-Share Index rose by 2.33 per cent to close at 250,485.54 points.
As a result, the market’s year-to-date return increased to 60.97 per cent from 57.30 per cent recorded in the previous session.
Market capitalisation records major increase
The strong performance also pushed equities market capitalisation higher.
Market capitalisation rose from N157.09 trillion to N160.26 trillion at the close of trading.
Meanwhile, total market capitalisation settled at N215.89 trillion.
Analysts linked the rally to sustained investor confidence and increased market participation.
Key stocks drive market rally
Several stocks recorded strong demand during the trading session.
Notably, RT Briscoe, FTN Cocoa Processors, and Livestock Feeds attracted significant buying interest.
Banking and telecommunications stocks also supported the positive momentum across the market.
Trading activity strengthens
Trading activity improved significantly during the session.
Total volume traded increased by 30.82 per cent to 1.51 billion shares.
Similarly, the value of transactions climbed by 17.23 per cent to N70.10 billion across 95,093 deals.
This performance reflected stronger investor participation and improved liquidity conditions.
Investor sentiment remains positive
Market sentiment also improved during the trading day.
A total of 56 stocks recorded gains, while 21 stocks declined.
Consequently, market breadth strengthened, showing wider participation across the exchange.
Analysts said the positive trend reflects growing confidence among both institutional and retail investors.
MTN Nigeria, banks dominate transactions
The most actively traded stocks by value included MTN Nigeria, First HoldCo, Dangote Cement, Zenith Bank, and Guaranty Trust Holding Company.
Together, these companies accounted for a large share of total market turnover.
Their performance continued to influence market direction and investor activity.
Equities turnover rises above N3tn
Year-to-date equities turnover also recorded significant growth.
Data showed that total turnover increased to N3.37 trillion.
In addition, average daily value traded rose to N38.74 billion, highlighting sustained market liquidity.
Analysts cite stronger investor confidence
Financial analysts attributed the continued rally to improving domestic participation and stronger confidence in listed companies.
Vice Chairman of Highcap Securities, David Adonri, said investors remain optimistic about corporate performance and market resilience.
“The market is responding positively to stronger investor sentiment and increased participation from both institutional and retail investors,” he said.
He added that expectations of improved company earnings continue to support bullish activity on the exchange.
