WorldStage– The Nigerian Exchange (NGX) opened the week on a positive note, extending its recent recovery path as institutional and retail investors positioned in high-yield counters.
The NGX All-Share Index (ASI) settled at 242,798.50 points (+0.62% daily gain, expanding year-to-date returns past 55%) while Market Capitalization closed at approximately ₦155.83 trillion, driven by steady capital inflows into heavy-cap equities.
Oil & Gas and Banking continue to act as the primary engines for index growth. Key buying pressure was concentrated in tier-one banks—notably First HoldCo Plc (+11.6%) and Access Holdings Plc—alongside major upstream player Seplat Energy Plc.
Headline index growth remains resilient, boosted by institutional interest following FTSE Russell’s announcement to reclassify Nigeria to Frontier Market status. However, overall market breadth remains relatively tight, with gains heavily concentrated in select liquid, high-volume stocks rather than across the entire board.
Seplat Energy Plc (SEPLAT), led the market with a +10.00% gain to reach ₦12,320.60 per share and driving major buying interest in the Oil & Gas sector.
Alongside SEPLAT, stocks like University Press Plc (UPL) (+18.8%), Transcorp Hotels Plc (TRANSCOHOT) (+9.76%), and Red Star Express Plc (REDSTAREX) (+9.9%) have drawn heavy bullish interest.
First HoldCo Plc (FIRSTHOLDCO) (+11.6%) and Access Holdings Plc (ACCESSCORP) are capturing significant trading volume as investors accumulate tier-one banking shares amid the Central Bank of Nigeria’s (CBN) ongoing recapitalisation drive.
Access Corp remains the single most actively traded equity by share volume (exceeding 42 million shares traded), while Transcorp Hotels recorded the highest total turnover value.
The ongoing Central Bank of Nigeria (CBN) recapitalisation mandate continues to be the single biggest driver of market activity.
Heavyweights in the banking sector (such as Zenith Bank, GTCO, and Access Corp) are driving massive volumes as financial institutions position themselves to meet capital requirements.
Following a period of profit-taking and pre-election/macroeconomic anxiety that wiped off significant market capitalization in mid-August (pulling back from peaks above ₦160 trillion), the market has seen a recent rebound, with the All-Share Index (ASI) hovering around the 241,000-point mark.
Persistent high inflation (around 15.9%) and high monetary policy interest rates (MPR at 26.50%) continue to create a high-yield environment for debt instruments, competing directly with equities for investor capital.
