The Nigerian All-Share Index advanced modestly by 135.97 points to settle at 218,249.81, representing a 0.06% gain from the previous session’s close of 218,113.84. The performance extends the market’s steady climb, even as trading activity showed signs of cooling.
Market activity softens despite positive close
Trading volume declined notably to 842.4 million shares from 983 million in the previous session, executed across 61,617 deals. Despite the drop in activity, market capitalisation inched higher to N140.5 trillion, up from N140.4 trillion, reflecting continued strength in heavyweight equities.
Total transaction value stood at N44.8 billion, underscoring sustained investor participation even amid reduced volume levels.
Market sentiment remained broadly bullish, with the index maintaining a strong year-to-date return of 40.26%, supported largely by sustained interest in industrial and consumer-linked stocks.
Large-cap strength anchors performance
The session’s gains were significantly influenced by strong performances in key large-cap names, with Lafarge Africa emerging as a standout performer, rallying 9.64% to close at N273.00.
Other notable gainers included Nascon Allied, which rose 10.00% to N171.60, and Union Dicon Salt, up 9.92% to N19.95. Trans-Nationwide Express and UAC of Nigeria also recorded solid advances of 8.27% and 7.84% respectively.
On the downside, profit-taking activity was evident in several counters, with Legend Internet and Abbey Mortgage Bank declining by 9.92% and 9.59% respectively. Stanbic IBTC, Access Holdings, and Veritas Kapital also closed weaker, reflecting selective sell pressure across financial and tech-linked equities.
Banking and industrial names dominate trading
Trading remained concentrated in the banking sector, with Access Holdings leading volume charts at 110.8 million shares despite closing lower. FCMB followed with 57.6 million shares, while Fidelity Bank, Zenith Bank, and United Bank for Africa recorded active participation, collectively accounting for a significant share of market turnover.
In terms of value, MTN Nigeria topped the board with N6.5 billion in trades, followed by Zenith Bank at N5.5 billion and GTCO at N3.8 billion. Aradel Holdings and Access Holdings also featured prominently, reflecting continued institutional interest in blue-chip equities.
Mixed performance among major indices
Within the list of Stocks Worth Over One Trillion (SWOOTS), Lafarge Africa and Dangote Cement provided positive support, rising 9.64% and 3.28% respectively. However, weakness in International Breweries, BUA Cement, Nigerian Breweries, and Wema Bank weighed on overall sentiment within the heavyweight segment.
The FUGAZ banking group closed on a mixed note. First Holdco led gains with a 4.41% rise, while GTCO edged up marginally by 0.08%. In contrast, Access Holdings dropped 8.83%, UBA declined 3.46%, and Zenith Bank slipped 0.16%, highlighting uneven investor positioning among tier-one lenders.
Record levels with technical caution in view
Despite intermittent profit-taking, sustained buying in large-cap stocks ensured the market remained in positive territory, reinforcing their continued dominance in shaping overall index direction.
The All-Share Index’s close at 218,249.81 marks a new historical high on a daily basis, extending the ongoing bullish cycle in the equities market.
However, analysts note that the index is currently trading in technically overbought territory above the 218,000 level. Even so, continued momentum in heavyweight counters could still provide the catalyst for a further push toward the 220,000 psychological threshold in the near term.