The Nigerian stock market extended its bullish run on Monday, pushing total market capitalisation above the ₦100 trillion threshold.
Market value rose by ₦1.87 trillion to ₦101.52 trillion, buoyed largely by the additional listing of 2.575 billion shares of First Bank on the Nigerian Exchange Limited (NGX).
The All-Share Index (ASI) advanced 1.74 per cent to a new record high of 159,218.22 points, reflecting sustained investor optimism.
Market breadth was strongly positive, with 73 stocks gaining against seven decliners.
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Cadbury, Champion Breweries, Fidson Healthcare, PZ Cussons, and Wapic Insurance topped the gainers’ chart.
On the contrary, Juli, Ikeja Hotel, Sunu Assurances, Sovereign Trust Insurance, and Berger Paints posted the steepest losses.
Sectoral performance was broadly positive, led by the insurance index, which surged 4.97 per cent.
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The banking index followed with a 4.71 per cent gain, while oil and gas rose 2.75 per cent.
Consumer goods advanced 2.06 per cent, commodities gained 1.59 per cent, and industrial stocks climbed 0.95 per cent.
Trading activity was mixed as the number of deals and volume jumped 40.72 per cent and 58.12 per cent to 56,632 trades and 695.65 million units, respectively.
However, transaction value declined 25.65 per cent to ₦18.57 billion, suggesting selective positioning in high-volume stocks.
Alex is a business journalist cum data enthusiast with the Pinnacle Daily. He can be reached via ealex@thepinnacleng.com, @ehime_alex on X
