The Nigerian equities market surged to a fresh all-time high on Monday, as renewed investor appetite and robust liquidity powered a historic rally on the Nigerian Exchange.

At the close of trading, the benchmark All-Share Index (ASI) climbed 4.37 per cent to settle at 190,281.57 points, marking one of the strongest single-day performances in recent years. The rally lifted the market’s year-to-date return to 22.28 per cent, underscoring sustained bullish sentiment amid improving macroeconomic signals and positioning in fundamentally sound stocks.

The latest upswing represents only the fourth time since November 2020 that the ASI has recorded a single-day gain exceeding the 4 per cent threshold, highlighting the scale of renewed buying pressure across key sectors.

In value terms, investors gained N5.11 trillion as total market capitalisation expanded by 4.37 per cent to close at N122.14 trillion. The sharp increase reflects broad-based demand from both institutional and retail investors seeking exposure ahead of anticipated corporate earnings releases and clearer macroeconomic direction.

Market breadth closed strongly positive at 1.9 times, with 54 stocks advancing compared to 28 decliners, a sign of widespread participation in the rally.

Leading the gainers’ chart were ABC Transport Plc, Aradel Holdings Plc, Jaiz Bank Plc, McNichols Plc, and Oando Plc, all buoyed by strong buying interest.

Conversely, profit-taking weighed on RT Briscoe Plc, DEAP Capital Management & Trust Plc, Caverton Offshore Support Group Plc, Guinea Insurance Plc, and Tantalizers Plc, which recorded the session’s steepest losses.

Sectoral performance was predominantly positive, with the Industrial Goods index leading the charge with a 7.77 per cent jump. The Oil & Gas index rose 4.73 per cent, Banking advanced 4.71 per cent, while Commodity, Insurance, and Consumer Goods indices posted gains of 3.15 per cent, 2.45 per cent, and 1.44 per cent respectively, reflecting strong cross-sector participation.

Trading activity also strengthened significantly. Total volume traded increased by 13.46 per cent to 1.06 billion shares, while transaction value surged 19.48 per cent to N62.99 billion. The number of deals executed climbed 28.30 per cent to 64,237 transactions, pointing to heightened market engagement.

Analysts believe the combination of improving liquidity conditions, earnings expectations, and renewed confidence in domestic equities is fueling the rally. Should the current momentum persist, the market could soon test new psychological thresholds, further cementing the Nigerian bourse’s status as one of the standout performers among frontier markets this year. (Nigerian Tribune)