The Nigerian stock market opened the week on a stronger footing as investors shifted back into recently corrected stocks.
The NGX All-Share Index (ASI) rose by 0.31% on Monday, reversing last week’s 2.51% decline.
Julius Berger Leads Gainers
Julius Berger Plc led the rally.
The construction giant’s share price climbed from ₦132.90 to ₦146.10, gaining nearly 10%.
Right behind, Cutix Plc advanced from ₦3.55 to ₦3.90, adding 9.86%. Vetiva analysts explained the momentum, saying investors drove the market with “risk-on” sentiment and a preference for fundamentally strong names.
Furthermore, insurance stocks extended the day’s winning streak.
Veritas Kapital lifted its share price by 9.6% to ₦2.17, while Regency Assurance jumped 9.7% to ₦1.47.
At the same time, MC Nichols Plc pushed higher to ₦3.50, notching a 9.37% gain.
Analysts Eye Banking Earnings
Meanwhile, research houses outlined their strategies.
CardinalStone kept its portfolio positions steady but pledged to adjust swiftly once half-year banking results emerge.
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In addition, Coronation Research highlighted persistent profit-taking pressures but acknowledged that bargain hunters continued to flow into industrial, banking, and insurance counters.
By the closing bell, the ASI reached 141,439.77 points, while the equities market capitalisation swelled to ₦89.493 trillion.
Investors executed more than 33,000 deals, exchanging 591 million shares worth ₦11.66 billion.
FCMB, Veritas Capital, Universal Insurance, AIICO, and GTCO dominated activity on the trading floor.
Looking ahead, analysts maintained a constructive outlook.
United Capital projected that financial services would remain the toast of investors, while Futureview Research argued that strong manufacturing earnings would keep optimism alive.
As a result, year-to-date returns climbed to 37.41%, underscoring that the bulls currently control the narrative — even as bears wait for their chance to strike again.
