The Nigerian stock market began the week on a strong footing on Monday, October 13, as the All-Share Index (ASI) climbed by 729.2 points, closing at 147,717.2. This represents a 0.50% rise from the previous close of 146,988.1, signaling renewed investor confidence in the market.
The rally was largely driven by gains in large-cap stocks such as Transcorp Power and Stanbic IBTC, both of which ended the day in positive territory.
Trading activity surged significantly, with volume traded nearly doubling to 624 million shares, compared to 385 million shares in the last session. Similarly, market capitalization rose to N93.7 trillion, up from N93.2 trillion, across 31,563 deals.
According to a 9am News report, the market’s upbeat performance reflects sustained demand in the banking, insurance, and industrial sectors, supported by strong investor sentiment and improved liquidity.
Market Summary
- Current ASI: 147,717.2
- Previous ASI: 146,988.1
- Day Change: +0.50%
- Year-to-Date Performance: +43.52%
- Volume Traded: 624 million shares
- Market Cap: N93.7 trillion
Top Gainers
- Sovereign Insurance (SOVRENINS): +9.97% to N3.53
- Regency Alliance Insurance (REGALINS): +9.68% to N1.36
- Transcorp Power (TRANSPOWER): +8.92% to N342.00
- Consolidated Hallmark (CONHALL PLC): +7.14% to N4.50
- HMCALL: +6.80% to N4.40
Top Losers
- Tripple Gee (TRIPPLEG): -9.92% to N5.45
- LivingTrust Mortgage Bank (LIVINGTRUST): -3.85% to N5.00
- NGXGROUP: -3.33% to N58.00
- CUTIX: -3.08% to N3.78
- PRESTIGE: -2.96% to N1.64
Trading Volume and Value
Consolidated Hallmark Plc (CONHALLPLC) dominated activity with 210.4 million shares traded, followed by Fidelity Bank (FIDELITYBK) with 47.4 million shares. CHAMS, UNIVINSURE, and SOVRENINS rounded out the top five actively traded stocks.
In value terms, MTN Nigeria led with N2.6 billion, while Zenith Bank, GTCO, Fidelity Bank, and Consolidated Hallmark followed with N1.4 billion, N1.03 billion, N951.8 million, and N909.6 million, respectively.
Among the Stocks Worth Over One Trillion Naira (SWOOTs), most traded positively.
Transcorp Power gained 8.92%, Stanbic IBTC rose 5.5%, Dangote Cement advanced 1.74%, and Nigerian Breweries climbed 1.86%. However, Lafarge slipped 0.73%.
Performance among tier-one banks (FUGAZ) was mixed.
First Bank Holding (FIRSTHOLDCO) gained 1.61%, AccessCorp rose 0.58%, and UBA closed flat, while GTCO fell 1.05% and Zenith Bank declined 0.73%.
Market Outlook
The Nigerian All-Share Index has regained strong bullish momentum, firmly reclaiming the 146,000 and 147,000 levels. Analysts project that sustained buying interest in mid- and large-cap stocks could further strengthen the ongoing rally in the short term
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