NGX Sustains Positive Momentum
The Nigerian equities market began September on a strong note as renewed investor demand pushed the NGX All-Share Index, ASI, higher by 0.77 per cent.
The positive performance lifted the benchmark index to 246,082.63 points, while the total market capitalisation of listed equities rose to N158.96 trillion.
The latest gain pushed the market’s year-to-date return to 58.14 per cent, compared with 56.93 per cent recorded in the previous trading session.
The performance reinforced the positive momentum in the Nigerian capital market as investors continued to take positions in selected stocks across major sectors.
Market data showed that buying interest in large-cap and mid-cap equities outweighed losses recorded by several companies during the trading session.
The positive close also reflected a broad improvement in investor sentiment, with the number of advancing stocks more than twice the number of equities that closed in negative territory.
The NGX recorded 41 gainers against 20 losers, resulting in a positive market breadth of 2.05 times.
Aradel, Nestlé Drive Investor Demand
Buying interest in selected heavyweight stocks was one of the major drivers of the market’s performance.
Aradel Holdings gained 8.83 per cent, while Nestlé Nigeria advanced by 5.83 per cent.
First HoldCo also recorded a gain of 1.17 per cent.
The positive performance of these stocks helped offset losses recorded by some companies, including Nigerian Aviation Handling Company, NAHCO, which declined by 9.22 per cent.
Transcorp also closed lower, losing 1.63 per cent, while ABC Transport declined by 9.52 per cent.
The mixed performance across individual equities shows that investors remained selective despite the overall positive market direction.
While buying activity was concentrated in several major stocks, some investors continued to take profits from companies that had previously recorded strong gains.
Aradel was also among the most active stocks by transaction value, with trades worth more than N4.5 billion recorded during the session.
FTN Cocoa Emerges Top Gainer
FTN Cocoa Processors emerged as the biggest price gainer during the trading session.
The company’s share price rose by the maximum daily limit of 10 per cent to close at N8.25.
SUNU Assurances followed with a gain of 9.94 per cent, while Sovereign Trust Insurance advanced by 9.57 per cent.
Caverton Offshore Support Group gained 9.52 per cent, while May & Baker appreciated by 9.46 per cent.
The performance of these companies reflected broad investor interest across agriculture, insurance, energy services and consumer-related sectors.
On the losing side, Tripple Gee and Company recorded the biggest decline after shedding 9.72 per cent.
Other notable losers included ABC Transport, NAHCO, R.T. Briscoe and UPDC REIT.
The session’s performance highlighted the continued importance of stock selection in the Nigerian equities market, as significant gains and losses were recorded across different sectors.
Trading Activity Rises Above N40bn
Market activity strengthened during the session, with both trading volume and value recording gains.
The total volume of shares traded increased by 7.44 per cent to 651.32 million units.
The value of transactions also rose by 5.35 per cent to N40.77 billion.
A total of 43,760 deals were executed during the trading session.
Access Holdings led the volume chart, with approximately 129.89 million shares exchanged.
MTN Nigeria Communications, MTNN, recorded the highest value of transactions, with trades worth about N4.69 billion.
The increase in transaction value and volume suggests sustained investor participation as market players reposition portfolios at the beginning of the new trading month.
Strong activity in major banking, telecommunications and energy stocks also contributed to the value traded on the exchange.
Market Capitalisation Approaches N159tn
The 0.77 per cent gain in the All-Share Index was matched by an increase in the total value of listed equities.
Market capitalisation rose to approximately N158.96 trillion, moving closer to the N159 trillion mark.
The latest performance means the Nigerian stock market has continued to build on the strong gains recorded since the beginning of the year.
With a year-to-date return of 58.14 per cent, the NGX remains one of the major areas of interest for investors seeking exposure to Nigerian financial assets.
The banking sector remained among the key contributors to market activity, while other sectors, including oil and gas, consumer goods and insurance, also recorded notable movements.
The market data showed that the Banking Index rose by 0.87 per cent during the session, while the Oil and Gas Index gained 3.87 per cent.
The Consumer Goods Index also advanced by 0.87 per cent.
The Insurance Index recorded one of the strongest sectoral performances, rising by 3.34 per cent.
The Industrial Goods Index increased by 0.71 per cent.
NASD OTC Market Also Posts Gains
Outside the main equities market, the NASD Over-the-Counter market also recorded a positive trading session.
The NASD Security Index advanced by 2.07 per cent to close at 4,395.94 points.
Market capitalisation rose by the same margin to approximately N2.64 trillion.
The positive performance pushed the NASD market’s year-to-date return to 24.05 per cent, compared with 21.53 per cent in the previous session.
However, trading activity was mixed.
The volume of securities traded declined by 55.02 per cent to 526,020 units.
Transaction value, on the other hand, increased by 7.04 per cent to N55.64 million.
SD11 Plc led the gainers after recording an 8.91 per cent increase, while SDFOODCPT was the only decliner during the session, falling by 0.40 per cent.
Naira Records Modest Appreciation
In the foreign exchange market, the naira recorded a modest appreciation against the United States dollar.
The Nigerian Foreign Exchange Market, NAFEM, appreciated by 0.26 per cent to close at N1,329.43 per dollar.
The movement in the exchange rate adds another positive signal for financial market participants as investors continue to monitor developments in Nigeria’s broader macroeconomic environment.
Exchange rate stability remains an important factor for both foreign and domestic investors, particularly those assessing returns on naira-denominated assets.
The performance of the naira and the equities market will therefore remain key indicators for investors in the coming weeks.
Investors Watch Next Phase of Market Rally
The strong start to September has extended the positive momentum of the Nigerian equities market.
With the NGX All-Share Index now at 246,082.63 points and the year-to-date return above 58 per cent, investors will be watching closely to see whether the rally can be sustained.
Corporate earnings, interest rates, foreign exchange developments and broader economic conditions are expected to remain important factors influencing investment decisions.
For now, the market has maintained a strong positive tone.
The combination of rising trading activity, positive market breadth and renewed buying interest in major stocks suggests that investor confidence remains resilient.
However, the mixed performance across individual equities also shows that market participants are likely to remain selective.
As September trading continues, investors will be closely monitoring the performance of major sectors and individual companies while assessing whether Nigeria’s strong equity market rally still has room to advance.
