Nigeria’s equity market opened the week with N60 billion in investor gains, reversing previous losses as the benchmark index climbed 0.07% to close at 144,722.47 points on renewed confidence in economic fundamentals.
Market capitalization increased to N91.6 trillion from N91.54 trillion, representing a year-to-date gain of 40.61% that outperforms most emerging markets globally. Trading activity showed 1.05 billion shares worth N15.05 billion exchanged across 38,137 transactions, indicating robust investor participation despite recent volatility.
The insurance sector drove Monday’s performance with a 5.26% gain, contributing to an impressive 98.41% year-to-date sector return. UPDC led gainers with 10% appreciation, while Aiico Insurance and Cornerstone Insurance posted similar double-digit advances, reflecting investor confidence in sector fundamentals.
“Market breadth closed positive with 43 gainers against 27 losers, suggesting broad-based optimism about Nigeria’s economic trajectory,” noted market analysts. The consumer goods index rose 1.15%, indicating sustained demand despite inflationary pressures.
Universal Insurance emerged as the most actively traded stock with 202.2 million shares, followed by Linkage Assurance and Lasaco Assurance. In value terms, GTCO led with N1.05 billion, followed by Zenith Bank and Aradel Holdings, demonstrating continued institutional interest.
The previous week’s N713 billion market capitalization decline represented profit-taking after sustained gains, market observers noted. Current momentum suggests renewed investor appetite for Nigerian equities amid improving macroeconomic indicators.
Foreign portfolio investment inflows continue supporting market liquidity, with international investors attracted by naira stability prospects and attractive dividend yields averaging 8.2% across blue-chip stocks.
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