Nigerian equities continued their upward trend on Monday, with the NGX All Share Index trading above the 134,500 level.
Broad-based sectoral strength supported market sentiment, according to exchange data. Electronic technology, consumer durables, and non-durables sectors led the gains during the session.
Major stocks including MTN Nigeria, Lafarge Cement WAPCO, and Presco advanced in early trading. Guaranty Trust Holding and Zenith Bank traded lower during the same period. Corporate earnings releases contributed to market activity, with Transcorp Hotels reporting a 60.07% year-on-year revenue increase to NGN 47.57 billion.
According to unaudited half-year filings, Transcorp Hotels posted NGN 8.68 billion profit after tax. Dangote Cement edged higher following its reported 17.7% revenue growth to NGN 2.07 trillion. The cement manufacturer recorded NGN 520.5 billion profit after tax, indicating industrial segment resilience.
Nigeria’s economic re-engagement with China includes USD 20 billion in new investment pledges across agriculture, energy, and manufacturing. The OECD-FAO Agricultural Outlook projects Nigeria’s cereal output will increase by 2.7 million tonnes over the next decade. Analysts noted productivity gains and expanding domestic demand as key drivers.
