Demand for BUA Cement, Others Lift Stock Market by N649bn

Kayode Tokede

The Nigerian stock market yesterday reversed negative direction witnessed in previous two trading sessions with a growth of N649 billion in market capitalisation to N126.399 trillion. 

The Nigerian Exchange Limited All Share Index (NGX ASI) gained by 1,010.22 points or 0.52 per cent to close at 196,908.76 basis points. 

The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Transcorp Hotels, BUA Cement, Fidson Healthcare, CAP and Guiness Nigeria.

Out of the 132 traded stocks, 30 advanced, 30 declined, while 62 others closed unchanged, indicating a mixed market breadth. FTN Cocoa Processors recorded the highest price gain of 10 per cent to close at N6.27, per share. Fidson Healthcare followed with a gain of 9.97 per cent to close at N105.35, while DEAP Capital Management & Trust up by 9.89 per cent to close at N7.00, per share.

Caverton Offshore Support Group rose by 9.40 per cent to close at N6.40, while Livestock Feeds appreciated by 9.30 per cent to close at N7.05, per share.

On the other hand, Eterna and Omatek Ventures led the losers’ chart by 10 per cent each to close at N42.30 and N2.52 respectively, while SCOA Nigeria followed with a decline of 9.94 per cent to close at N22.65, per share.

Fortis Global Insurance depreciated by 9.24 per cent to close at N1.08, while Sovereign Trust Insurance declined by 9.09 per cent to close at N2.10, per share.

Meanwhile, the total volume traded declined by 25.84 per cent to 549.781 million units, valued at N44.736 billion, and exchanged in 55,465 deals. Transactions in the shares of Fortis Global Insurance topped the activity chart with 32.182 million shares valued at N34.775 million. Access Holdings followed with 28.124 million shares worth N700.986 million, while First Holdco traded 27.722 million shares valued at N1.385 billion.

Zenith Bank traded 27.483 million shares valued at N2.559 billion, while Dangote Cement sold 26.893 million shares worth N20.671 billion.

On market performance,analysts at mperial Asset Managers Limited said, “overall, the session reflects returning of investor confidence, supported by selective accumulation in fundamentally strong stocks amid positive macroeconomic environment and above par corporate earnings released so far for full year, 2025 season.”