The Nigerian stock market began the new trading week on a positive note, extending gains from earlier weeks.
The benchmark All-Share Index (NGXASI) rose by 0.58 per cent intraday, supported by strong investor interest in stocks including NCR, IMG, Maybaker, Honeywell Flour, WAPCO, FirstHoldCo, NGX Group, NB, Aradel, Cadbury, PZ, Access Holdings, Transcorp, ETI, Wema Bank, GTCO, Custodian, and others.
The index closed yesterday at 163,244.69 points, up from 162,298.08 points on the previous trading day.
Investors’ wealth increased by N744.99 billion, bringing market capitalisation to N104.52 trillion.
Market sentiment was broadly bullish, with 49 gainers led by Sovereign Insurance, against 19 decliners led by Fidelity Bank.
Several stocks traded above their 52-week highs, including McNichols at N6.05, DeapCap at N3.30, Jaiz Bank at N6.18, and NCR at N87.90.
Market activity Total traded volume rose 84.17 per cent to 1.15 billion shares, valued at N19.23 billion across 59,359 deals. Sovereign Insurance recorded the highest volume at 307.47 million units, representing 26.75 per cent of total shares traded.
Fidelity Bank had the highest traded value at N3.14 billion, accounting for 16.32 per cent of total market value.
Fidelity Bank and Link Assurance together contributed 24.11 per cent of total volume, while Aradel and Zenith Bank were among the top contributors by value.
However, with about 100 days left until the March 31, 2026 deadline for Nigeria’s banking sector recapitalisation, banks are working against time to meet the CBN’s minimum requirements.
There are suggestions that several banks could be forced to close if they are unable to meet the deadline.
