Investors Rebound as NGX Gains ₦465bn on Renewed Demand for Insurance and Power Stocks

|By Adejumo Adekunle

The Nigerian stock market opened the week on a strong note as investors recorded a ₦465 billion boost in market value on Monday, driven by renewed demand in insurance and power equities.

Data from the Nigerian Exchange Limited (NGX) showed that the market capitalisation climbed to ₦93.760 trillion from ₦93.295 trillion at the close of trading on Friday, reflecting heightened investor confidence.

Similarly, the All-Share Index (ASI) advanced by 0.50 percent, adding 729.19 points to settle at 147,717.23 compared to 146,988.04 in the previous session.

Market activity surged significantly as trading volume, value, and deals all improved. A total of 624.61 million shares valued at ₦13.5 billion exchanged hands in 31,563 transactions—up from 386.6 million shares worth ₦11.26 billion traded across 21,842 deals on Friday.

Top-performing stocks included Sovereign Trust Insurance, Regency Alliance Insurance, Transcorp Power, Consolidated Hallmark Holdings, and Halldane McCall. Sovereign Trust Insurance led the gainers’ chart, while Tripple Gee topped the losers’ list.

Consolidated Hallmark Holdings dominated trading in volume with 210.5 million shares worth ₦909.6 million, followed by Fidelity Bank with 47.5 million shares valued at ₦951.82 million.

The market breadth closed flat with 25 gainers matching 25 decliners, reflecting a balanced sentiment among investors as the week’s trading kicked off.