Equities investors gained more than N83 billion on Monday as telecom and palm oil stocks rallied. The equities market trading activities closed on a positive note, as key performance indicators grew by 13 basis points. Despite its positive close, market breadth signalled negative sentiment, as 22 gainers fell short of 35 losers, resulting in a weak advancers-to-decliners ratio of 0.63x. Data from the Nigerian Exchange, NGX, showed that today’s gain was supported by buying interest in some blue-chip stocks. Top gainers in the market include PRESCO (10.00%), OKOMUOIL (9.99%), TRANSCORP (1.89%), MTNN (1.24%), FCMB (0.90%), UCAP (0.22%), OANDO (0.15%), among others. The All-Share Index added 134.18 basis points in today’s trading session, reflecting a 0.13% increase to close at 104,630.30. However, the market activities were down today, as the total volume and total value of traded shares declined by 59.64% and 14.07%, respectively. In its note, Atlass Portfolios Limited told investors that approximately 510.57 million units valued at ₦13,253.12 million were transacted across 14,611 deals.
In terms of volume, FBNH led the activity chart, accounting for 16.55% of the total volume of traded in the equities market on Monday. Other volume drivers include ZENITHBANK (10.75%), UNIVINSURE (6.42%), UBA (6.22%), and FIDELITYBK (3.83%), rounding out the top five. ZENITHBANK emerged as the most traded stock in value terms, accounting for 20.59% of the total value of transactions conducted on the exchange. BETAGLAS and PRESCO topped the advancers’ chart for today with a price appreciation of 10.00 percent each, trailed by OKOMUOIL (+9.99%), NNFM (+9.98%), CHELLARAM (+9.95%), CONHALLPLC (+9.48%), VERITASKAP (+8.26%), and fourteen others. Thirty-five stocks depreciated, according to data from the Nigerian Exchange trading platform. UPL was the top loser, with a price depreciation of -10.00%. Other decliners include LASACO (-8.33%), NGXGROUP (-8.14%), CADBURY (-4.35%), HONYFLOUR (-3.13%), and ZENITHBANK (-1.19%).
Stockbrokers said the market breadth closed negative, recording 21 gainers and 35 losers. In addition, the market sectoral performance was negative as three of the five major market sectors go south. The consumer goods sector declined by 0.61%, followed by the banking sector, which dipped by 0.40%, and the industrial sector lost 0.10%.
The insurance and Oil & Gas sectors grew by 0.54% and 0.02%, respectively. Overall, the equities market capitalisation of the Nigerian Exchange rose by ₦83.09 billion, representing a growth of 0.13%, settling at ₦64.79 trillion. With improved confidence in Nigeria’s foreign exchange market, offshore investors have begun to return to the equities market, and bank stocks were their first targets, MarketForces Africa gathered from investment bankers and several investors notes. Hunting after attractive earnings expectations, foreign investors increased bets on Nigerian banks in January. Top banks were the major targets, with some interest seen in consumer goods names.
The surge in interest lifted top banks’ valuations higher, with GTCO market valuations crossing N1.8 trillion, Zenith Bank surpassed N1,6 trillion, and Access Holdings was above N1 trillion level. Year-to-date, the equities market return settled at 1.5% as investors’ sentiment pushed the Nigerian Exchange all-share index higher week on week amidst the earnings festival. In January, the performance of the local bourse was guided by portfolio positioning during early trading session in 2025. Market sentiment were generally mixed ahead of corporate actions and earnings.
Equities investors gain N83bn as telecom, palm oil stocks rally
