The Nigerian stock market staged a strong rebound on Monday, reversing a week-long bearish trend as investors gained N1.52 trillion in market value.
Trading on the Nigerian Exchange (NGX) closed on a positive note, with the market capitalization of listed equities rising by N1.52 trillion, or one per cent, to N152.85 trillion from N151.33 trillion recorded at the close of trading last week.
Similarly, the NGX All-Share Index (ASI) advanced by 2,261.84 basis points, representing a 0.96 per cent increase, to close at 238,203.11 points, compared to 235,941.27 points in the previous session.
The recovery was largely driven by strong performances from major banking stocks. First HoldCo Plc and Guaranty Trust Holding Company Plc (GTCO) led the gainers’ chart with a 10.00 per cent appreciation each, while Zenith Bank Plc climbed by 7.09 per cent.
Despite the market rally, some stocks recorded losses. Eterna Plc topped the losers’ chart with a decline of 9.90 per cent, followed by Deap Capital Management & Trust Plc, which shed 9.82 per cent, and Austin Laz & Company Plc, down by 9.74 per cent.
Market activity also strengthened significantly, reflecting renewed investor confidence. Total trading volume rose by 8.05 per cent to 475.82 million shares from 440.36 million shares recorded in the previous session. The value of transactions surged by 47.86 per cent to N36.49 billion, compared to N24.68 billion traded previously.
The number of deals executed increased by 26.4 per cent to 63,567 transactions from 50,273 trades, highlighting stronger participation across the market.
Fidelity Bank Plc emerged as the most actively traded stock by volume, with 48.75 million shares exchanged, while MTN Nigeria Communications Plc dominated the value chart, accounting for transactions worth N16.64 billion.
The positive performance marks a significant turnaround for investors after a difficult week in which the market shed N5.64 trillion amid sustained bearish trading sessions, offering fresh optimism that confidence may be returning to the equities market.
