The Nigerian equities market opened the week on a strong note, with the NGX All-Share Index (NGX-ASI) advancing 1.20% to close at 248,529.75 points, marking its fourth consecutive positive session. The gain lifted the market’s year-to-date return to 59.71%, while market capitalisation increased by 1.20% to NGN160.42 trillion, translating to an estimated NGN1.91 trillion gain in investors’ wealth.

Market breadth, however, remained negative despite the strong index performance, with 23 gainers against 37 decliners, resulting in a breadth ratio of 0.62x. The Up/Down (UD) Volume Ratio stood at 3.48x, indicating that advancing stocks accounted for a significantly larger share of traded volume despite the broader number of declining stocks.