Stock Market Gains N1.52trn in One Day to Lift Capitalisation Above N161tn
Kayode Tokede
The Nigerian stock market yesterday maintained its positive momentum as investors’ return advanced by an estimated N1.52 trillion to bring the total market capitalisation above the N161 trillion mark.
The Nigeria Exchange Limited All-Share Index (NGX ASI) rose by 1,926.13 basis points or 0.77 per cent, to close at 252,411.67 basis points with Month-to-Date and Year-to-Date returns settled higher at +4.2per cent and +62.2per cent, respectively.
Similarly, the overall market capitalisation value gained N1.52 trillion to close at N161.775 trillion.
The market positive performance was driven by price appreciation in large and medium capitalised stocks which are; Aradel Holdings, Unilever Nigeria, PZ Cussons Nigeria, Nigerian Breweries and Vitafoam Nigeria.
Sectoral performance was mixed as the NGX Oil & Gas (+3.4per cent), NGX Banking (+1.9 per cent) and NGX Consumer Goods (+1.7per cent) Indices closed higher, while the NGX Insurance (-1.4per cent) and NGX Industrial Goods (-0.5per cent) indices closed lower.
Investor sentiment remained upbeat, with market breadth closing positive as 45 stocks advanced against 32 decliners. Ikeja Hotel and University Press recorded the highest price gain of 10 per cent each to close at N39.60 and N4.40 respectively, per share.
Zichis Agro Allied Industry followed with a gain of 9.98 per cent to close at N40.35, while FTN Cocoa Processors and Chams Holding Company appreciated by 9.97 per cent each to close at N10.04 and N3.75 respectively, per share.
On the other hand, Fortis Global Insurance led the losers’ chart by 9.65 per cent to close at N1.03, per share. Custodian Investment followed with a decline of 9.52 per cent to close at N81.25, while NPF Microfinance Bank dipped by 8.33 per cent to close at N5.50, per share.
AIICO Insurance shed 7.74 per cent to close at N4.41, while Honeywell Flour Mills lost 5.41 per cent to close at N17.50, per share.
The total volume increased by 36.48 per cent per cent to 2.028 billion units, valued at N87.709 billion, and exchanged in 80,888 deals. Transactions in the shares of CWG topped the activity chart with 431.631 million shares valued at N9.495 billion. United Bank for Africa (UBA) followed with 403.087 million shares worth N16.607 billion, while C & I Leasing traded 152.118 million shares valued at N1.005 billion.
Fidelity Bank traded 81.669 million shares valued at N1.698 billion, while Honeywell Flour Mills transacted 72.376 million shares worth N1.237 billion.
On market outlook, Cowry Assets Management Limited said, looking ahead to Wednesday’s trading session, the market is expected to sustain its positive momentum, supported by continued investor optimism and strong buying interest across key sectors.
