THE Nigerian Exchange Limited (NGX) resumed trading for the second week of February on a positive note, as market capitalisation crossed N111 trillion mark to gain N1.4 trillion and sustaining bullish momentum to the sixth consecutive trading sessions.

The all-share index (ASI) gained by 2,218.73 points, representing a growth of 1.29 per cent to close at 173,946.22 points.

The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are Dangote Cement, Aradel Holdings, Nigerian Aviation Handling Company (NAHCO), Skyway Aviation Handling Company and CAP.

On market outlook, United Capital Plc said: “The equity market is expected to remain positive but selective, with continued interest in oil and gas, industrial stocks, ICT, banking and breweries, while weaker sentiment may persist in Consumer Goods and Insurance. Profit-taking after recent gains could moderate upside momentum.”

Market breadth was strongly bullish, with 58 advancing stocks surpassing 23 declining counters. CAP, Daar Communication and May & Baker Nigeria recorded the highest price gain of 10 per cent each to close at N90.20 kobo, N2.09 kobo and N43.45 kobo.

R.T. Briscoe (Nigeria) followed with a gain of 9.98 per cent to close at N13.89, while Zichis Agro Allied Industry, NAHCO, DEAP Capital Management & Trust up by 9.97 per cent each to close at N7.39 kobo, N150 and N7.50 kobo respectively.

On the other hand, Eunisell Interlinked led the losers’ chart by 9.98 per cent to close at N134.85 kobo. Tripple Gee & Company followed with a decline of 8.9 per cent to close at N6.65 kobo, while Abbey Mortgage Bank declined by 8.03 per cent to close at N13.75 kobo.

Austin Laz & Company depreciated by 7.41 per cent to close at N5, while Haldane McCall declined by 6.56 per cent to close at N3.99 kobo.

Market performance across sectors was broadly mixed, with oil and gas emerging as the standout performer after rallying 3.88 per cent. The Commodity sector also posted strong gains, advancing 2.75 per cent, while Insurance recorded a moderate increase of 1.08 per cent. Industrial stocks edged higher by 0.5 per cent and consumer goods closed slightly positive with a 0.48 per cent gain. In contrast, the Banking sector ended the session in negative territory, shedding 0.9 per cent.

Meanwhile, the total volume traded declined by 18.72 per cent to 775.177 million units, valued at N27.916 billion, and exchanged in 65,960 deals. Transactions in the shares of Access Holdings topped the activity chart with 67.144 million shares valued at N1.547 billion. Zenith Bank followed with 46.242 million shares worth N3.432 billion, while Secure Electronic Technology traded 43.943 million shares valued at N47.868 million.

Veritas Kapital Assurance traded 39.373 million shares valued at N91.609 million, while Mutual Benefits Assurance sold 33.893 million shares worth N145.669 million.