As investor confidence in Nigeria continues to grow amid ongoing fiscal and monetary policy reforms by the Federal Government, the Nigerian equities market recorded a significant boom in value on Monday, with the NGX All-Share Index (ASI) surpassing the 200,000-point mark, representing a major feat in its performance indices in its trading history.
The feat was spurred by strong investor demand for stocks, particularly the blue chips, as well as impressive gains across key sectors during the trading session.
Data from the Nigerian Exchange Group (NGX) on the local bourse’s trading trend reflected that the ASI rose 1.55% to close at 201,474.89 points compared with the preceding day’s trading of 198,407.30 points.
According to the trading report by the NGX, today’s performance of the equities market raised the month-to-date (MTD) return of the ASI to 4.48% and the year-to-date (YTD) return to 29.47%, indicating bullish momentum in the trading on the exchange.
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As expected, the market capitalisation also grew to N129.33 trillion, up from N127.36 trillion recorded at the close of trading last Friday as most of the blue chip stocks led the gains chart across the market.
Similarly, trading activity on Monday remained robust, with total deals peaking at 72,700 as investors exchanged 948.1 million shares valued at N49.15 billion.
An analysis of the sectoral performance indicated that the Financial services stocks dominated transactions by volume, reflecting heightened investor interest in the sector.
The top gainers during the day’s trading comprised BUA Cement Plc, Premier Paints Plc, John Holt Plc, Guinea Insurance Plc, and FTN Cocoa Processors Plc.
Conversely, among the losers were VFD Group Plc, Royal Exchange Plc, Omatek Ventures Plc, Sovereign Trust Insurance Plc, and Regency Alliance Insurance Plc.
