The Nigerian equities market opened the trading week on a strong footing, extending its bullish momentum as overall market capitalisation advanced by N1.755tn, reflecting sustained investor confidence and continued buying interest in large-cap stocks.

The benchmark All-Share Index gained 2,721.83 points, representing an appreciation of 1.12 per cent to close at 246,183.96 points. Consequently, total market capitalisation rose significantly to settle at N158.812tn.

The session’s performance was primarily anchored by price gains across large and medium-capitalised stocks, including BUA Cement, Guinness Nigeria, First HoldCo, Nigerian Exchange Group, and Custodian Investment.

Despite the surge in market valuation, overall investor sentiment was slightly negative, with 31 decliners narrowly outpacing 29 gainers. Custodian Investment and NEM Insurance emerged as the session’s top price performers, each rising by the maximum daily limit of 10.00 per cent to close at N75.90 and N30.80 per share, respectively.

BUA Cement followed with a 9.98 per cent advance to close at N303.10 per share, while First HoldCo rose 9.95 per cent to N105.50, and FTN Cocoa Processors appreciated 9.94 per cent to settle at N9.29 per share.

On the losing side, Sunu Assurance topped the decliners’ chart after shedding 10.00 per cent to close at N3.60 per share. Tripple Gee & Company followed with a 9.77 per cent decline to N3.51, while ABC Transport dropped by 9.62 per cent to N7.05. Abbey Mortgage Bank also lost 9.00 per cent to close at N9.10, while Wapic Insurance depreciated 7.69 per cent to settle at N2.40 per share.

Activity on the trading floor improved notably as the total volume traded increased 24.17 per cent to 851.634 million units, valued at N49.595bn across 56,873 deals. Transactions in the shares of First HoldCo led the volume chart, accounting for 203.938 million shares worth N21.515bn.

Access Holdings followed with 190.716 million shares valued at N4.824bn, while United Bank for Africa traded 29.186 million shares worth N1.391bn. Zenith Bank recorded 24.709 million shares valued at N2.869bn, and Sterling Financial Holdings Company completed the top activity drivers with 23.604 million shares worth N187.385m.