The Nigerian Exchange Limited (NGX) began the new trading week on a positive note on Monday, with strong buying interest across key stocks lifting total market capitalisation by N745 billion and signaling improved investor confidence in the equities market.

At the close of trading, equities market capitalisation rose to N104.52 trillion, up from N103.78 trillion recorded in the previous session. The All-Share Index gained 946.61 points, or 0.58%, closing at 163,244.69 points from 162,298.08 points.

Market activity also picked up significantly. Investors traded 1.15 billion shares valued at N19.21 billion across 59,326 deals, representing an 84% increase in volume, a 4% rise in turnover, and a 35% jump in deal numbers compared with the prior session.

Trading was broadly positive, with 128 listed equities participating. Forty-nine stocks ended higher, while twenty declined, highlighting a bullish sentiment in the market.

On the gainers’ table, E-Tranzact International led with a 10% gain to close at N16.50 per share. Other top performers included Red Star Express (10% to N11.55), McNichols (10% to N6.05), UPDC (10% to N5.50), RT Briscoe (10% to N3.96), and Deap Capital Management and Trust (10% to N3.30).

Conversely, some stocks closed weaker, led by Champion Breweries, which shed 8.51% to end at N15.05 per share. Eunisell Interlinked fell 8.01% to N156.20, Ikeja Hotel declined 8% to N36.80, Guinea Insurance lost 7.3% to N1.27, Omatek Ventures dropped 3.12% to N1.24, and Lasaco Assurance fell 2.99% to N2.60.

In terms of trading volume, Sovereign Trust Insurance led with over 307 million shares exchanged, followed by Fidelity Bank with roughly 158 million shares. Linkage Assurance and Mutual Benefits Assurance were also among the most actively traded stocks.

By value, Fidelity Bank topped the list with N3.14 billion worth of shares traded. Other significant contributors to market liquidity included Aradel Holdings, Zenith Bank, Eunisell Interlinked, and Sovereign Trust Insurance.

Analysts attributed the market’s positive performance to renewed bargain hunting in select stocks, particularly in the banking and insurance sectors, as well as confidence following recent gains in market capitalisation above the N100 trillion mark. They noted that sustained buying interest, driven by expectations of full-year corporate earnings and portfolio rebalancing, could maintain upward momentum in the near term, though intermittent profit-taking is likely.

The NGX’s strong start to the week reinforces its position as one of the region’s best-performing markets, with market capitalisation firmly above N104 trillion, reflecting the resilience of Nigeria’s equities market despite ongoing macroeconomic challenges.