Trading activities on the Nigerian Exchange Limited (NGX) closed on a positive note on Monday, as renewed investor interest in oil and gas, banking, and industrial stocks pushed the benchmark All-Share Index (ASI) up by 1.48 percent.
The market rally was driven largely by strong performances from SEPLAT Energy Plc, which led the gainers’ chart following sustained buying interest from institutional investors. SEPLAT’s stock appreciated by over 10 percent, buoyed by optimism around the firm’s production outlook and global oil price recovery.
At the close of trading, the ASI advanced by 1.48 percent to close at 101,225.63 points, while the market capitalization rose by approximately ₦840 billion, settling at ₦57.45 trillion.
According to data from the NGX, 28 stocks recorded gains, while 17 closed in the red. Other notable gainers included BUA Cement, MTN Nigeria, Zenith Bank, and GTCO Holdings, reflecting broad-based investor sentiment across key sectors.
Market analysts attributed the uptrend to increased demand for fundamentally strong equities and renewed optimism following recent policy statements aimed at stabilizing the economy.
“Investors appear to be positioning ahead of third-quarter earnings releases, with expectations of stronger results in energy and financial stocks,” said a market analyst at Lagos-based CardinalStone Securities.
On the losers’ side, International Breweries, FBN Holdings, and Transcorp Plc recorded moderate declines due to profit-taking activities after last week’s gains.
The total volume of shares traded stood at 425.6 million units, valued at ₦7.9 billion, exchanged in 7,320 deals. The banking sector accounted for the largest share of transactions, followed by consumer goods and oil and gas stocks.
With the market sustaining its positive momentum, analysts believe investor sentiment may remain upbeat in the near term, supported by earnings expectations, oil price stability, and policy clarity in the energy and financial sectors.
