The trading week kicked off on an upbeat note, with the NGX All-Share Index surging by 0.79% to close at 104,418.95 points, driven by a stellar performance from the banking sector. Banking stocks were in the spotlight as Access Holdings (+9.88%), FBNH (+7.84%), UBA (+4.93%), Fidelity (+9.16%), Zenith Bank (+2.82%), GTCO (+1.80%), FCMB (+9.72%), Sterling Bank (+9.20%), Stanbic (+1.01%), and Wema Bank (+5.77%) delivered solid gains. This strong rally in financials propelled the NGX Banking Index higher up +4.71%, signaling renewed investor confidence in the sector. Other notable gainers included Nestle (+8.57%), Presco (+8.74%), MTNN (+0.85%), Dangote Sugar (+6.71%), and NB (+3.23%).
On the flip side, key laggards included Transcorp Hotels (-9.97%), Oando (-6.39%), MRS (-10.00%), and Wapco (-0.57%).
Market turnover was robust at N13.3 billion ($8.5 million), driven primarily by heavy trading activity in banking stocks such as Zenith Bank, Access Holdings, GTCO, and UBA with both local and international participation observed. Year-to-date, the index is now up by +1.45%, reflecting growing optimism. The bullish momentum is expected to persist as investors continue to reposition for fundamentally sound stocks.