September 29, (THEWILL) — The Nigerian equities market closed on a positive note on Monday, with the benchmark All-Share Index (ASI) recording a slight increase of 0.17%. The ASI opened at 142,133.00 points and closed at 142,377.54, reflecting a gain of 244.54 points by the end of the trading session.
In line with the uptick in the index, the market capitalisation rose from N89.97 trillion to N90.13 trillion, representing a value gain of approximately N160 billion. This upward movement marks a positive start to the week, albeit under cautious market conditions.
Top Gainers:
The session saw 25 stocks post gains, led by strong performances in the energy, banking, and mid-cap segments:
THOMASWY (MRS) topped the gainers’ list with a 10.00% surge (moving from N3.30 to N3.63).
LIVING TRUST appreciated by 9.90%, (climbing from N5.15 to N5.66).
ETERNA gained 9.86% (advancing from N27.90 to N30.65) likely on the back of renewed interest in oil and gas stocks.
CAVERTON rose by 9.28%(from N6.25 to N6.83), maintaining momentum from previous sessions.
FIDELITY BANK posted a gain of 8.13%, as its stock (moved from N18.45 to N19.95), driven by increasing investor demand in the banking sector.
Top Decliners:
Despite the green close, the market breadth was negative, with [36] stocks recording losses. Leading the decliners were:
MANSARD, which declined by -10.00% (falling from N16.00 to N14.40).
UPI dropped by -9.85% (slipping from N5.99 to N5.40).
LEARNAFRICA saw a decline of -9.72%, (moving from N7.20 to N6.50).
JULIUS BERGER fell by -8.70%, with its share price dropping from [N149.50 to N136.50, possibly on profit-taking after recent rallies.
CORNERST lost -7.42%, (ending the day at N5.80 from an opening price of N6.33).
Unchanged Stocks:
A handful of stocks closed flat, reflecting a wait-and-see approach by investors. These include GUINEAINS, MAYBAKER, PRESTIGE, UNILEVER, LEGENDINT, and WEMABANK.
Market Summary & Investor Sentiment:
While the market closed in the green, the underlying sentiment was mixed and cautious. The positive movement in the ASI and market capitalisation indicates some level of bullish activity, but the negative market breadth — with more losers than gainers — reveals dwindling broad-based investor confidence, albeit momentarily
Investors appear to be focusing on stock-specific opportunities, particularly in sectors like banking and energy, where fundamentals or earnings potential remain attractive. However, the prevalence of declines suggests that profit-taking, macroeconomic caution, or external market factors (such as FX volatility or inflation concerns) are still influencing broader sentiment.
Market participants are seemingly reacting to news and performance on a case-by-case basis, avoiding indiscriminate buying across the board.
Barring any major economic announcements or unexpected geopolitical developments, the market is expected to trade in a narrow range, with a potential for marginal gains in select sectors for the next market day.
Investors may continue to:
Unless a major catalyst emerges — such as a significant earnings release or fiscal policy change — tomorrow’s session may reflect a continuation of today’s cautious optimism, with movements driven largely by earnings potential and investor sentiment in specific sectors.
Ogochukwu Onwaeze
