Investors Gain N115bn as Banking, Oil Stocks Lift NGX

The Nigerian Exchange Limited (NGX) opened the week on a positive note as investors recorded a gain of N115bn in market capitalisation on Monday, driven by strong performances in banking and oil and gas stocks.

Market capitalisation rose to N90.1tn from N89.99tn in the previous session, while the All-Share Index (ASI) gained 244.51 points, or 0.17 per cent, closing at 142,377.54 basis points.

Trading data showed that 383.91m shares valued at N11.61bn were exchanged in 28,088 deals—reflecting a 26 per cent drop in volume and a 36 per cent fall in value compared with last Friday, although the number of deals increased by 26 per cent.

The rally was supported by interest in Fidelity Bank, Zenith Bank, Eterna, and Seplat Energy. Sector performance was mixed, with the NGX Industrial Index up 1.59 per cent and the Banking Index advancing 0.47 per cent.

Of the 125 equities traded, 25 gained while 36 recorded losses. Top gainers included SFS Real Estate Investment Trust (+10% to N346.55), Thomas Wyatt Nigeria (+10% to N3.63), LivingTrust Mortgage Bank (+9.9% to N5.66), and Eterna (+9.86% to N30.65).

On the losers’ side, AXA Mansard Insurance shed 10% to close at N14.40, University Press dropped 9.85% to N5.40, Learn Africa lost 9.72% to N6.50, and Julius Berger fell 8.7% to N136.50 per share.

First Bank Holdings led activity with 47.5m shares worth N1.47bn, followed by Ellah Lakes (24.46m units worth N290.87m) and Veritas Kapital Assurance (21.87m shares worth N44.66m). Zenith Bank also featured strongly with 18.75m units worth N1.31bn.

Year-to-date, the ASI has gained 38.33 per cent, reinforcing investor appetite despite volatility in select stocks. Analysts noted that strong corporate earnings and improving macroeconomic fundamentals—rising oil production, expanding non-oil sectors, and a looser monetary policy stance—have boosted sentiment.

Recent earnings reports influenced trading dynamics. Zenith Bank Plc announced a 19.96 per cent revenue growth with an interim dividend of N1.25 per share. UBA Plc posted a 6 per cent profit rise but trimmed its dividend to 25 kobo. Stanbic IBTC Holdings reported a 49 per cent jump in profit with N2.45 dividend payout, while GTCO Plc saw a 50 per cent profit decline but declared N1.00 dividend.

Analysts, however, advised investors to remain diversified, noting opportunities in energy, ICT, agriculture, and finance, while highlighting risks tied to market volatility.