Market Cap Adds N1.05trn in One-day on Demand for ETI, Others

Kayode Tokede

The stock market section of the Nigerian Exchange Limited (NGX) yesterday sustained its bullish sentiment by N1.05 trillion as investors continued to show strong interest in Ecobank Transnational Incorporated Plc (gained 10 per cent) and 41 other large-cap stocks.

The All Share Index (ASI) gained by 1,662.60 points, representing a growth of 1.56 per cent to close at 108,361.10 points basis with the Month-to-Date and Year-to-Date returns settling at +2.6per cent and +5.3per cent, respectively.

Also, market capitalisation gained N1.05 trillion to close at N68.105 trillion.

Market breadth remained positive, with 42 gainers outpacing 25 decliners. Ecobank Transnational Incorporated (ETI), Northern Nigeria Flour Mills (NNFM) and Nestle Nigeria recorded the highest price gain of 10 per cent each to close at N25.85, N82.50 and N1,210.00 respectively, per share.

Beta Glass followed with a gain of 9.98 per cent to close at N132.80, while Austin Laz & Company up by 9.94 per cent to close at N1.88, per share.

On the other hand, Guinea Insurance led the losers’ chart by 8.70 per cent to close at 63 kobo, per share. DAAR Communications followed with a decline of 6.78 per cent to close at 55 kobo, while VFD Group declined by 6.59 per cent to close at N17.00, per share.

Wapic Insurance depreciated by 6.07 per cent to close at N2.01, while Regency Alliance Insurance declined by 4.69 per cent to close at 61 kobo, per share.

Also, the total volume traded declined by 16.45 per cent to 475.459 million units, valued at N13.899 billion, and exchanged in 17,575 deals. Transactions in the shares of Access Holdings topped the activity chart with 103.915 million shares valued at N2.202 billion. Guaranty Trust Holding Company (GTCO) followed with 37.985 million shares worth N2.423 billion, while United Bank for Africa (UBA) traded 30.731 million shares valued at N1.039 billion.

Sterling Financial Holdings Company traded 27.177 million shares valued at N147.244 million, while enith Bank sold 26.184 million shares worth N1.235 billion.

On market outlook, Afrinvest Limited said “we expect the domestic bourse to sustain gains, driven by market reassessment of opportunities on the back of the largely impressive Q1 2025 earnings performance.”