NGX Gains ₦3 Billion as Investors Trade Cautiously
The Nigerian Exchange (NGX) recorded a modest gain on Monday, adding about ₦3 billion to market capitalisation despite generally cautious trading activity across the bourse.
The soft rally reflects selective buying in key stocks as investors adopt a wait-and-see stance amid mixed economic signals and sectoral performance.
Data from the trading session showed that the NGX All-Share Index inched higher by 4.62 basis points, equivalent to roughly 0.003 per cent, closing at 149,437.88 points.
Market capitalisation rose by ₦2.94 billion, reaching approximately ₦95.27 trillion.
Despite the uptick, trading volumes and value remained subdued. A total of 553.16 million units of stock valued at ₦13.27 billion exchanged hands across 28,907 deals, indicating restrained investor participation compared with previous sessions.
Several equities contributed to the positive tilt in the market. VITAFOAM Nigeria Plc led in traded value, accounting for 13.40 per cent of total market turnover, while stocks such as SOVRENINS, GUINNESS, MECURE, FIRSTHOLDCO, AIICO, and ALEX posted notable price gains. Conversely, PRESTIGE led the losers’ chart with a 10 per cent decline, followed by FTNCOCOA, GUINEAINS, ROYALEX, NB, and TIP, as some investors took profits or adopted defensive positions.
Market breadth ended slightly positive, with 28 gainers against 22 losers, indicating cautious optimism despite the subdued activity.
Sectoral performance was mixed: the Banking and Insurance sectors recorded marginal increases, while the Consumer Goods and Oil & Gas sectors posted declines, and others remained flat.
Analysts say the cautious trading reflects investors’ sensitivity to broader economic indicators, including continued deceleration in inflation and mixed corporate earnings reports, which influence decisions on portfolio allocation between equities and fixed-income instruments.
The session’s performance comes after a week in which the NGX posted overall gains, with investors raking in over ₦1.5 trillion across several trading sessions, highlighting selective confidence in blue-chip stocks despite pockets of volatility.
Market watchers note that upcoming economic data releases and corporate earnings announcements will likely guide trading direction in the coming weeks.
