The Nigerian Exchange Limited (NGX) started the week on a positive note as strong buying interest in Presco Plc, Beta Glass and Champion Breweries lifted the equities market by ₦278 billion on Monday.
The All-Share Index (ASI) increased by 0.37 percent, moving from 118,138.22 points in the previous session to 118,579.65 points.
Similarly, the market capitalisation rose from ₦74.534 trillion to ₦74.812 trillion, driven by gains across major sectors.
Presco Plc led the gainers’ chart, advancing by 10 percent from ₦1,100 to ₦1,210 per share following renewed investor interest in the agribusiness stock, which recently crossed the ₦1,000-per-share mark.
The share price appreciation added ₦110 to its market value, positioning Presco among the top-performing stocks on the NGX.
Beta Glass followed, rising from ₦276 to ₦303.60, also recording a 10 percent gain. Champion Breweries posted similar performance, climbing from ₦8.20 to ₦9.02 per share, reflecting an 82 kobo or 10 percent increase.
Market analysts attributed the performance to bullish sentiment driven by expectations of improved Q2 earnings and strategic positioning by institutional investors ahead of the earning season.
“We expect the market to stay positive, supported by strategic moves from tier-one banks following the recent CBN circular, though the upcoming FGN bond auction may weigh on sentiment early in the week,” analysts at Futureview Research noted.
Trading activity remained strong with 653.66 million shares exchanged in 22,206 deals valued at ₦21.33 billion.
Fidelity Bank, Zenith Bank, Nigerian Breweries, FTN Cocoa and Access Holdings featured prominently on the volume and value charts, indicating sustained interest in financial and consumer goods stocks.
United Capital Research stated that the equities market may continue its upward trend, backed by excess liquidity in the financial system and investor positioning for Q2 results.
“The market may benefit from FX gains, cost management, and interim dividend potential, particularly for fundamentally sound companies with a clear growth trajectory,” the firm said.
However, the analysts also cautioned that sentiment could be tempered by an expected OMO and FGN bond auction, as well as persistent macroeconomic headwinds.
“Elevated yields may redirect investor attention to fixed income securities, while concerns around inflation, weak naira, and monetary tightening could limit upside in the short term,” United Capital added.
Despite the mixed outlook, investor interest in select large-cap and fundamentally sound stocks continues to support the market’s resilience.
