The Nigerian stock market opened the week on a bullish note Monday, adding N288 billion in investor wealth despite underlying weakness in market breadth. Market capitalisation rose 0.18 per cent to close at N158.614 trillion, up from N158.326 trillion at the previous close, while the All-Share Index advanced 446.85 points to 245,283.68. The session extended the year-to-date return to 57.91 per cent, underscoring sustained positive sentiment in the equities segment.
Trading activity, however, painted a mixed picture. The number of declining stocks outpaced gainers by 39 to 25, signaling selective buying rather than broad-based optimism. Volume and value metrics also softened, with investors exchanging 923.01 million shares worth N37.85 billion in 72,544 deals. That represented a 2.12 per cent drop in volume compared to the previous session.
Price action was led by Eterna Plc and Caverton Offshore Support Group, which both appreciated by the daily limit of 10 per cent to close at N36.30 and N5.50 respectively. Omatek Ventures gained 9.88 per cent to N1.78, while AVA Capital rose 9.70 per cent to N9.05. Vitafoam Nigeria rounded out the top five gainers with a 7.90 per cent increase to N194.00.
On the downside, Ecobank Transnational Incorporated topped the losers’ chart, shedding 9.95 per cent to settle at N80.10. Cadbury Nigeria fell 9.92 per cent to N58.10, and Thomas Wyatt Nigeria declined 9.82 per cent to N3.95. WAPIC Insurance and Critical Minerals Financing Corp also dropped sharply, losing 9.80 per cent and 9.79 per cent to close at N2.30 and N3.50 respectively.
Access Holdings Plc dominated trading by volume, accounting for 166.64 million shares or 18.05 per cent of total turnover. Aradel Holdings led the value chart with transactions worth N4.59 billion, representing 12.12 per cent of the day’s Traded value.
The divergence between index gains and negative breadth suggests that large-cap stocks drove the market higher while mid- and small-cap names faced selling pressure. Market watchers will monitor whether the positive momentum can broaden in subsequent sessions or if profit-taking in heavyweight names will reverse the early gains.
