Onome Amuge
The Nigerian Exchange (NGX) All-Share Index (ASI) rose by 0.06 per cent to close at 147,806.82 points, adding 89.41 basis points and pushing the market to a new all-time high. The uptick marks a continuation of the market’s bullish momentum, albeit at a slower pace, as investors rotated funds from fixed income into equities amid improved sentiment and selective bargain hunting.
According to market data, the year-to-date return on the benchmark index has now climbed to 43.6 per cent.
Market capitalisation increased by N56.74 billion to N93.82 trillion, reflecting the same 0.06 percent gain as the broader index. However, trading activity showed signs of fatigue, with total transaction volume and value falling by 57.39 per cent and 37.73 per cent, respectively, compared to the previous session.
The day’s advance was primarily powered by insurance counters, which continued to attract renewed interest from retail and institutional investors. The insurance sector rose 1.01 per cent, making it the day’s best-performing segment, followed by the industrial goods sector at +0.30 per cent, and consumer goods at +0.10 per cent.
Among the top gainers, Regency Alliance Insurance (REGALINS) led with an 8.82 per cent jump, closing as the session’s strongest performer. The insurer’s rally was followed by Prestige Assurance (PRESTIGE), which climbed 6.71 per cent, and Wapic Insurance (WAPIC), which gained 6.45 per cent.
Also featured on the gainers’ list were Legend Interior (LEGENDINT), up 5.45 per cent, and Computer Warehouse Group (CWG), which advanced 4.74 per cent on renewed investor interest in tech-related plays.
International Breweries (INTBREW) also registered a 3.57 per cent gain, extending recent momentum in the consumer goods space amid expectations of improved earnings resilience in the fourth quarter.
Despite the index gain, the market breadth was negative, with 23 gainers against 36 decliners, reflecting cautious sentiment ahead of corporate earnings releases and inflation data due later this month.
The banking index fell 0.37 per cent, reversing earlier gains from last week, while the oil and gas index slipped 0.09 per cent, pressured by declines in Oando (-1.23%) and Dangote Sugar (-1.64%), among others.
Austin Laz (-7.90%), Fidson Healthcare (-6.67%), and Berger Paints (-5.92%) topped the losers’ chart, as profit-taking dragged on select mid-tier names. Ellah Lakes shed 3.46 percent, while Oando and Dangote Sugar recorded marginal losses amid subdued investor interest in energy and manufacturing counters.
The industrial sector, however, posted a 0.30 per cent rise, buoyed by mild gains in cement and construction-related stocks, while consumer goods inched up 0.10 per cent on renewed interest in brewers and household goods manufacturers.
Trading data from Atlass Portfolio Limited showed that 262.45 million shares, valued at N8.27 billion, exchanged hands across 16,693 deals during the session.
Fidelity Bank (FIDELITYBK) remained the most traded stock by volume, accounting for 10.35 per cent of the total turnover, followed by Chams (7.59%), Tantalizers (7.46%), AccessCorp (6.13%), and Sovereign Insurance (4.42%).
In terms of value, MTN Nigeria (MTNN) dominated trading, contributing 14.23 per cent of the total market value.
Analysts noted that the dip in trading volume and value was not indicative of waning confidence but rather a reflection of cautious positioning as investors awaited new catalysts.
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