Nigerian Stocks Open Week Higher as Insurance and Blue-Chip Shares Drive NGX ASI Gains

The Nigerian equities market began the trading week on a positive note, with the NGX All-Share Index (ASI) climbing 0.09% to close at 145,880.77 points from Friday’s 145,754.91.

Renewed buying interest in insurance and blue-chip stocks reversed part of Friday’s losses, boosting investor sentiment and market capitalization to ₦92.29 trillion, translating to a ₦79.61 billion gain. Year-to-date (YTD) returns advanced to 41.73%.

STANBIC led the charge with a 10.00% surge, followed closely by ENAMELWA (+9.93%), NEM (+9.09%), and JBERGER (+6.51%). Other notable gainers included CUSTODIAN, BUAFOODS, TRANSCORP, and ACCESSCORP. BUA Foods’ market capitalization reached ₦10.58 trillion after its share price rose to ₦588. Market breadth remained positive with 38 gainers against 36 losers.

AIICO, VERITASKAP, STANBIC, UNIVINSURE, and UPDC all traded above their 52-week highs, while CORNERST, MANSARD, ELLAHLAKES, and INTENEGINS also surpassed their peak levels. Conversely, MBENEFIT fell below its 52-week low at ₦12.10. ABBEYBDS and ABCTRANS led the day’s losers.

Total traded volume fell 4.52% to 2.12 billion units worth ₦19.40 billion in 40,435 deals. LINKASSURE dominated volume with 703.59 million units (33.26%), while UNIVINSURE and AIICO followed. STANBIC recorded the highest value at ₦1.73 billion.