Nigeria’s stock market rebounded sharply on Monday, snapping a long stretch of weak sentiment as investors added N1.52 trillion to the value of listed companies. Trading on the Nigerian Exchange (NGX) finished higher across key indicators, with market capitalization climbing by N1.52 trillion—an increase of about 1%—to N152.85 trillion. This reverses the N151.33 trillion level recorded at the close of the prior week.
Broad market performance also strengthened. The NGX All-Share Index (ASI) rose by 2,261.84 basis points, equivalent to a 0.96% gain, to end the session at 238,203.11 points. That compares with 235,941.27 points in the previous trading day.
The rally was led by renewed buying interest in major banking stocks. First HoldCo Plc and Guaranty Trust Holding Company Plc (GTCO) were the top gainers, each advancing by 10.00%. Zenith Bank Plc followed with a 7.09% increase.
Not all stocks participated in the rebound. On the decliners’ side, Eterna Plc fell 9.90%, while Deap Capital Management & Trust Plc dropped by 9.82%. Austin Laz & Company Plc also slid, losing 9.74%.
Market participation expanded alongside price gains. Trading volume rose by 8.05% to 475.82 million shares, up from 440.36 million shares in the previous session. The total value of trades jumped even more sharply, increasing by 47.86% to N36.49 billion from N24.68 billion earlier.
Deal activity improved as well, with the number of transactions climbing by 26.4% to 63,567 from 50,273. This points to broader investor engagement during the session. Fidelity Bank Plc was the most actively traded by share volume, with 48.75 million shares changing hands, while MTN Nigeria Communications Plc topped the value traded chart, accounting for transactions worth N16.64 billion.
Overall, the day’s gains represent a notable turnaround following a difficult week for the market. During the prior stretch of persistent bearish trading, investors collectively shed N5.64 trillion.
