The Nigerian Exchange Limited began the week on a positive note, with market capitalisation increasing by N247.21 billion on Monday. This surge was driven by renewed investor interest in insurance and banking stocks. At the close of trading, market capitalisation rose to N94 trillion, while the All-Share Index appreciated by 0.26 per cent to 147,427.92 points. This extends the positive sentiment from the previous week and marks a 2.95 per cent week-on-week gain, as well as a 43.24 per cent year-to-date increase.
Trading activity saw significant improvement, with 550.84 million shares exchanged in 30,065 deals, valued at N13.83 billion. Compared to the previous trading session on December 5, the market experienced a 52 per cent increase in volume and a 43 per cent rise in the number of deals, although turnover decreased by 7 per cent. The market breadth closed positive, with 43 gainers outpacing 16 losers.
Morison Industries led the advancers, rising 9.89 per cent to close at N3.89 per share, followed by NPF Microfinance Bank, which gained 9.85 per cent, and Sovereign Trust Insurance, up 9.31 per cent. Conversely, Daar Communications topped the losers’ chart with a 7.14 per cent decline to N0.91 per share, trailed by Livestock Feeds, Nigerian Aviation Handling Company, and Union Dicon Salt, which fell by 6.25 per cent, 6.1 per cent, and 4.76 per cent, respectively.
FCMB Group led the volume chart with 129.65 million shares, followed by Japaul Gold, Zenith Bank, and Fidelity Bank. On the value chart, Zenith Bank dominated with trades worth N2.71 billion, alongside strong turnover figures from MTN Nigeria, FCMB Group, Fidelity Bank, and AccessCorp. Sectoral performance was also upbeat, with key indices posting gains, including the Insurance Index rising 1.83 per cent and the Banking Index appreciating 0.94 per cent.
This positive start to the week reflects sustained investor confidence, particularly in financial services and insurance stocks, which continue to attract bargain hunters. As the year draws to a close, the market is expected to remain driven by portfolio positioning and improved sentiment across major counters. The Nigerian Exchange’s strong close last week, driven by ICT and banking stocks, which added N2.44 trillion to the market, sets the stage for continued growth. With the All-Share Index gaining 2.45 per cent to 147,040.08 points and market capitalisation rising 2.67 per cent to N93.722 trillion, the outlook for the Nigerian Exchange Limited remains positive.
