Nigerian Exchange N3bn gain reflects cautious investor sentiment as ASI rises slightly amid mixed sector performance and lower turnover

The Nigerian Exchange Limited recorded a modest N3 billion gain on the first weekday of trading, with market capitalisation rising to approximately N95.3 trillion, as investors adopted a cautious stance amid mixed sector performance.

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The All-Share Index inched higher by 4.62 points to close at 149,437.88, reflecting mild buying interest despite a decline in market turnover.

A total of 553.16 million shares valued at N13.27 billion were exchanged across 28,888 deals, representing a three per cent drop in trading volume and a 54 per cent fall in turnover compared with the previous session.

The number of deals, however, rose by 42 per cent.

Analysts noted that subdued activity indicated selective positioning by investors, driven by ongoing portfolio rebalancing and profit-taking in some large-cap stocks.

Market breadth closed positive, with 28 equities appreciating against 23 decliners, while the remainder of listed stocks closed flat.

Sovereign Trust Insurance Plc led the gainers with a 10 per cent rise to N3.74 per share, followed by Guinness Nigeria Plc, up 9.96 per cent to N239.50. MeCure Industries Plc and First HoldCo Plc advanced 9.88 per cent and 9.86 per cent, respectively, while AIICO Insurance Plc and Alex Industries Plc also recorded notable gains.

On the losing side, Prestige Assurance Plc declined 10 per cent to N1.53, FTN Cocoa Processors Plc fell 8.16 per cent to N4.50, and Guinea Insurance Plc dropped 7.69 per cent to N1.08.

Royal Exchange Plc shed 7.25 per cent to N1.79, while Nigerian Breweries Plc lost 6.86 per cent to close at N76.75, reflecting targeted profit-taking.

Sectoral performance was mixed, with gains in banking and insurance indices supporting the broader market.

The Banking Index rose 0.89 per cent, while the Insurance Index increased by 0.87 per cent. Conversely, the Top 30 Index fell marginally by 0.08 per cent due to sell pressure in selected heavyweight stocks.

In terms of trading activity, FCMB Group Plc was the most active stock by volume, exchanging 92.04 million shares, followed by Access Holdings Plc with 67.93 million shares.

Consolidated Hallmark Holdings Plc traded 50.78 million shares, while Fidelity Bank Plc and Jaiz Bank Plc also featured among the most active counters.

By value, Vitafoam Nigeria Plc led transactions, followed by Access Holdings Plc, GTCO Plc, First HoldCo Plc, and FCMB Group Plc.

Market analysts suggested that the modest N3 billion gain underscored cautious sentiment driven by mixed macroeconomic signals and expectations around corporate earnings and policy direction.

While the market remains fundamentally resilient, near-term trading is expected to be influenced by profit-taking and selective positioning until clearer catalysts emerge.

The slight uptick in the ASI and market capitalisation reflects underlying strength in Nigeria’s equities market, even as investors continue to trade with restraint.

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Last week, the market recorded 4.373 billion shares valued at N97.783 billion in 110,736 deals, marking a slowdown from the prior week but ending with a 1.63 per cent increase in the ASI and a 1.64 per cent rise in market capitalisation to N95.264 trillion.