Banking stocks played a central role in lifting the Nigerian equities market to a positive close on Monday, as trading on the Nigerian Exchange ended on an upward note.
Market capitalisation increased by 0.44 percent, rising from ₦139.84 trillion to ₦140.44 trillion. This translates to a gain of approximately ₦609 billion for investors within a single trading session.
Similarly, the All-Share Index recorded a 0.44 percent rise, gaining 946.27 points to close at 218,113.84, compared to 217,167.57 in the previous session.
The rally was largely driven by strong performances in banking equities, which significantly influenced overall market sentiment and direction.
Year-to-date returns improved further to 40.16 percent, reflecting sustained investor confidence, while market breadth remained positive with 36 gainers against 35 losers.
On the gainers’ table, Nigerian Aviation Handling Company and Union Dicon Salt led the pack with 10 percent gains each, closing at ₦242 and ₦18.15 per share respectively.
Fidelity Bank rose by 9.98 percent to ₦22.05, while Trans-Nationwide Express gained 9.92 percent to ₦6.65. Access Corporation also advanced by 9.87 percent to close at ₦32.85.
On the downside, Stanbic IBTC and Livingtrust Mortgage Bank recorded the largest losses, each shedding 10 percent to close at ₦169.70 and ₦3.69 respectively. Transcorp Power declined by 9.97 percent, while Abbey Mortgage Bank and Guinea Insurance also posted notable losses.
Trading activity, however, slowed compared to the previous session. A total of 983.9 million shares valued at ₦50.8 billion were exchanged in 76,410 deals, down from 1.3 billion shares worth ₦54.4 billion traded in 56,923 transactions earlier.
This reflects a 21.79 percent decline in overall market activity, despite the positive price movement.
In terms of volume, Access Corporation led with 91.65 million shares, accounting for 9.31 percent of total trades. Meanwhile, Zenith Bank topped the value chart with transactions worth ₦7 billion, representing 13.80 percent of total market value.
