Investors’ renewed interest in key stocks like MTN Nigeria, Zenith Bank, and Guaranty Trust Holding Company (GTCO) has led to a significant gain in the Nigerian equity market, with an increase of ₦578 billion.
The market capitalization of listed equities on the Nigerian Exchange Ltd. (NGX) surged from ₦55.130 trillion to ₦55.708 trillion, marking a 1.05% increase.
Similarly, the All-Share Index (ASI) advanced by 1.05%, gaining 1,017.3 points to close at 98,116.27, up from 97,098.98 recorded the previous day. As a result, the Year-To-Date (YTD) return climbed to 31.22%.
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Market breadth also closed positive, with 23 stocks gaining and 19 losing.
On the gainers’ log, Unilever, Vitafoam, and MTN Nigeria led with 10% increases, closing at ₦18.70, ₦19.25, and ₦198 per share, respectively. Okomu Oil followed closely with a 9.99% increase to close at ₦353.30, while Oando Plc gained 9.97% to close at ₦36.95 per share.
Conversely, United Capital led the losers’ log, dropping by 9.94% to close at ₦14.50. Abbey Mortgage Bank followed, declining by 8.05% to close at ₦2.40 per share. Other notable decliners included Sterling Nigeria, which lost 5.66% to close at ₦4.00, Ikeja Hotel, which dropped 5.56% to close at ₦6.80, and Chams, which decreased by 5.38% to close at ₦2.11 per share.
Meanwhile, market activities showed an increase in trade turnover, with the value of transactions up by 18.45% compared to the previous session. A total of 791.78 million shares valued at ₦15.13 billion were exchanged in 9,059 deals, compared to the 636.50 million shares worth ₦12.77 billion traded in 9,744 deals during the previous session.
NEM Insurance led the activity chart in terms of volume, trading 187.51 million shares worth ₦1.31 billion. Access Corporation followed with 115.98 million shares valued at ₦2.20 billion. In terms of value, GTCO led the chart with 109.92 million shares worth ₦5.06 billion, while Abbey Mortgage Bank sold 50.72 million shares valued at ₦121.74 million. United Bank for Africa (UBA) also saw significant activity, trading 44.63 million shares valued at ₦934.39 million. (NAN)
