NGX Edges Up in Quiet Start to the Trading Week

The Nigerian Exchange (NGX) kicked off the trading week on a modest note, closing virtually flat with a marginal gain of 0.03% in the All-Share Index (ASI).

Despite the subdued index movement, market participation saw significant volume, with investors exchanging 612.92 million shares across 71,138 deals, valued at approximately ₦32.56 billion. While overall turnover dipped slightly by 1% compared to the previous trading session, total deals surged by 29%, reflecting heightened retail and institutional activity across the floor. Overall market capitalization held strong at ₦159.5 trillion.

Key Sector Highlights:

Banking & Financials: Led the day's positive momentum. FirstHoldco rallied sharply by +4.58%, supported by solid gains in UBA (+2.93%) and Stanbic IBTC (+2.42%). MTN Nigeria (+0.94%) also posted a modest uptick.

Laggards: Losses in International Breweries (-9.85%) and BUA Cement (-2.47%) dragged on broader market sentiment, while AccessCorp (-1.37%) and GTCO (-0.53%) saw mild pullbacks. Heavyweights Flat:Major index heavyweights including Dangote Cement, Seplat Energy, and Airtel Africa traded unchanged, keeping the general index grounded near equilibrium.

The session reflected a cautious, selective buying strategy among investors—favoring tier-1 banking stock valuations while taking profit off consumer and industrial goods names.