The Nigerian equities market extended its bullish run on Monday, with market capitalisation crossing the N160 trillion mark as investors gained a combined N3.162 trillion.
Market capitalisation rose by 2.01 per cent, climbing from N157.094 trillion recorded on Friday to N160.256 trillion, reflecting sustained buying interest across the market.
Similarly, the All-Share Index (ASI) advanced by 5,709.71 basis points to close at 250,485.54, further strengthening the market’s year-to-date return.
Trading sentiment remained upbeat as investors recorded 59 gainers against 21 losers, signalling renewed confidence in the equities market.
Major gainers during the session included CHAMS Plc, FTN Cocoa Processors, International Energy Insurance, Livestock Feeds Plc and RT Briscoe, all of which appreciated by 10 per cent.
On the losers’ chart were Prestige Insurance, Sovereign Trust Insurance, University Press, Ellah Lakes and Tantalizers, which posted notable declines at the close of trading.
Market activity also improved significantly, with investors trading 1.49 billion shares valued at N68.45 billion in 94,834 deals.
Veritas Kapital emerged as the most active stock by volume, accounting for 194.63 million shares traded, representing 13.10 per cent of total volume traded on the exchange.
By value, MTN Nigeria dominated the market, recording transactions worth N12.39 billion during the trading session.
Speaking on the market performance, Vice President of Highcap Securities, David Adonri, attributed the rally to improving macroeconomic conditions, increased liquidity and renewed investor confidence.
According to him, aggressive buying interest was evident across major sectors, with many stocks closing on full bid.
He noted that MTN Nigeria had previously faced negative sentiment driven by xenophobic concerns, but investors now recognise the telecom giant as a largely Nigerian-owned company with strong local participationnan
