March 02, (THEWILL) — The Nigerian equities market commenced the new trading week on a firm footing, posting a strong rebound as renewed buying interest lifted key market indicators.
The trading session opened on Monday with the Market Capitalisation at ₦123.763 trillion, and closed at ₦125.488 trillion, representing a gain of approximately ₦1.725 trillion. Meanwhile, the NGX All-Share Index (ASI) advanced from 192,826.78 to 195,514.23, reflecting broad-based demand across selected counters.
Market breadth closed neutral, with 32 gainers and 32 losers, underscoring a balanced session despite the significant upward movement in the benchmark index.
Top Stocks on the Gainers’ List Include:
NGXGROUP added 10.00 percent (₦124.00 to ₦136.40).
ARADEL advanced 9.99 percent (₦1,084.00 to ₦1,192.30).
UHOMREIT 9.96 percent (moved up from ₦69.25 to ₦76.15).
SOVRENINS 9.95 percent (from ₦2.21 and closed at ₦2.43).
PZ 9.72 percent (opened at ₦72.00 and closed at ₦79.00).
On the Other Side:
CUSTODIAN lost -10.00 percent (fell from ₦68.00 to ₦61.20).
MCNICHOLS -9.92 percent (opened at ₦8.47 and closed at ₦7.63).
AFRIPRUD dipped by -9.75 percent (₦17.95 to ₦16.20).
CHAMS recorded a loss of -9.11 percent (₦4.50 to ₦4.09).
NEIMETH -8.23 percent (from ₦11.55 to ₦10.60).
Unity Bank, Cadbury Nigeria, Nestle Nigeria, African Alliance Insurance, and Coronation Insurance, amongst others, closed flat for the session.
Despite the equal number of gainers and losers, the session reflected positive investor sentiment, evidenced by the magnitude of price appreciation in key large-cap and growth stocks. The sharp rise in market capitalisation suggests renewed institutional positioning and selective accumulation, particularly in exchange-related and energy-linked counters.
The balanced breadth indicates that while buying pressure was strong enough to lift the index, pockets of profit-taking persisted in certain financial and mid-cap stocks. This suggests a market undergoing sector rotation rather than broad-based speculative momentum.
If sustained buying interest continues in high-capitalisation and fundamentally resilient stocks, the market may extend its recovery in the near term. However, with breadth evenly split, volatility remains likely as investors continue portfolio rebalancing.
Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.
