Nigerian equities started the week with the benchmark NGX All-Share Index gaining 0.29% to close at 247,699.78 points, even as selling pressure outweighed buying across much of the market.
The index's advance masked weak market breadth, with only about 12 stocks recording gains against more than 40 decliners. The divergence suggests that gains in a few influential stocks were enough to lift the broader index despite widespread losses elsewhere.
ZICHIS led the gainers, climbing 9.97% to ₦18.20, while ARADEL rose 5.38% to ₦1,570. NSLTECH gained 4.29% to ₦0.73, INTBREW added 3.02% to ₦10.25, and MTNN advanced 2.45% to ₦832.90.
Aradel was particularly notable, combining a strong price gain with significant trading activity, while MTNN provided further support from the heavyweight telecom segment.
At the other end of the market, OMATEK and CAVERTON each fell 10%, the daily limit. DAARCOMM dropped 9.41%, FTGINSURE declined 9%, while CHAMPION, TRANSEXPR and WAPIC lost 8.79%, 8.33% and 7.08%, respectively. JAIZBANK also came under pressure, falling 6.36%.
Trading activity remained concentrated in a relatively small group of stocks. ACCESSCORP led volume with about 40 million shares, followed by STERLINGNG at 18.1 million, GTCO at 17 million and NB at 14.5 million. FIDELITYBK, INTENEGINS, TIP and JAIZBANK also featured prominently among the most traded stocks.
Among the market's largest companies, price action was generally subdued. AIRTELAFRI, DANGCEM, BUAFOODS and SEPLAT recorded limited movement, while MTNN and Aradel stood out for stronger performance.
For investors, Monday's session points to a selective rather than broad-based rally. The All-Share Index gained, but the negative breadth and concentration of liquidity indicate that market sentiment remains uneven. Investors will be watching whether today's leading gainers can sustain their momentum and whether buying interest broadens into banking, energy and other major sectors in subsequent sessions.
.jpg)
