The Nigerian equities market continued its positive momentum yesterday, as capitalisation rises by N3 billion, amid gains in 28 stocks. The all-share index rose by 4.62 per cent, representing a gain of 0.003 per cent, to close at 149,437.88 points. Similarly, the overall market capitalisation value gained N3 billion to close at N95.267 trillion.

The market positive performance was driven by price appreciation in large and medium capitalised stocks which are Guinness Nigeria, Eunisell Interlinked, MeCure Industries, First Holdco and Berger Paints.

On market outlook for this week, United Capital Plc said: “The Nigerian equity market may continue to experience measured optimism this week. Broad-based sectoral gains, particularly in banking, ICT, Food and beverages, and building materials, alongside sustained NGX-ASI momentum, could support positive investor sentiment.

“The strengthening trade surplus and stability in the exchange rate may provide additional confidence, while monitoring of import growth relative to exports will remain important for assessing external risks.”

Sectoral performance was mixed, with Banking leading the gainers after rising 0.89 per cent, followed by Insurance which advanced 0.87 per cent. In contrast, Consumer Goods and Oil and Gas fell by 0.79 per cent and 0.05 per cent respectively, while the Industrial and Commodities sectors closed flat.

Market sentiment was bullish, with 28 advancing stocks surpassing 23 declining counters. Sovereign Trust Insurance recorded the highest price gain of 10 per cent to close at N3.74, per share. Guinness Nigeria followed with a gain of 9.96 per cent to close at N239.50, while MeCure Industries rose by 9.88 per cent to close at N41.70 kobo.

AIICO Insurance appreciated by 9.86 per cent to close at N3.79, while First Holdco rose by 9.86 per cent to close at N34.55 kobo..