The Nigerian Exchange (NGX) closed higher on Monday, with banking stocks leading a 0.44 percent rise in total market capitalization to N140.44 trillion from N139.84 trillion, translating to a N609 billion gain for investors.
The All-Share Index also climbed by 946.27 points, or 0.44 percent, to settle at 218,113.84, up from 217,167.57 in the previous session. Year-to-date returns improved to 40.16 percent, while market breadth finished positive with 36 gainers against 35 losers.
Among the top performers, Nigerian Aviation Handling Company and Union Dicon Salt led the gainers’ chart, each advancing by 10 percent to close at N242 and N18.15 per share, respectively. Fidelity Bank rose by 9.98 percent to N22.05, Trans-Nationwide Express gained 9.92 percent to N6.65, and Access Corporation advanced by 9.87 percent to N32.85.
On the downside, Stanbic IBTC and Livingtrust Mortgage Bank topped the losers’ table, shedding 10 percent each to close at N169.70 and N3.69, respectively. Transcorp Power declined by 9.97 percent to N272.70, Abbey Mortgage Bank dropped by 9.88 percent to N7.30, and Guinea Insurance fell by 8.80 percent to N1.14.
A total of 983.9 million shares valued at N50.8 billion were traded in 76,410 deals, compared to 1.3 billion shares worth N54.4 billion exchanged in 56,923 transactions in the previous session—a 21.79 percent decline in overall market activity. Access Corporation recorded the highest trading volume with 91.65 million shares, accounting for 9.31 percent of total volume, while Zenith Bank led in value terms with trades worth N7 billion, representing 13.80 percent of the day’s total value.
The strong showing by banking stocks underscores their continued influence on market performance, even as overall trading activity moderated. Investors will be watching closely for further momentum in the financial sector, which remains a key driver of Nigeria’s equity market growth.
