Bulls Extend Run, Equities Cap Hits N92trn On Renewed Investor Optimism

The Nigerian equities market yesterday extended its bullish run as sustained investor confidence drove  market capitalisation to N92 trillion.

This positive momentum underscores growing optimism around the resilience of market fundamentals and corporate earnings potential.

As a result, the All-Share Index rose by 1,017.49 per cent, representing a gain of 0.70 per cent, to close at 145,813.86 points. Similarly, the overall market capitalisation value gained N644 billion to close at N92.252 trillion.

The market positive performance was driven by price appreciation in large and medium capitalised stocks which are; Transcorp Hotels, BUA Cement, Guinness Nigeria, Oando and Custodian Investment.

On market outlook, Afrinvest Limited said, “we anticipate a moderation in buy sentiment as investors are likely to book some gains.”

Investor sentiment remained broadly upbeat, with market breadth closed positive as 53 stocks recorded gains, while 26 posted losses. Meyer, Guinness Nigeria, Learn Africa, AXA Mansard Insurance, Mutual Benefits Assurance, NEM Insurance, SCOA Nigeria, Jaiz Bank and Haldane McCall recorded the highest price gain of 10 per cent each to close at N18.15, N128.75, N6.27, N12.10, N2.42, N29.70, N5.50, N4.73 and N4.84 in that order, per share.

Consolidated Hallmark Holdings, Sterling Financial Holdings Company and C&I Leasing followed with a gain of 9.97 per cent each to close at N4.08, N8.16 and N7.61 respectively, while Cornerstone Insurance and Custodian Investment rose by 9.96 per cent each to close at N5.30 and 43.05 respectively, per share.

On the other hand, UACN and Nigerian Exchange Group led the losers’ chart by 10 per cent each to close at N90.00 and N63.00 respectively, while Living Trust Mortgage Bank followed with a decline of 9.93 per cent to close at N5.35, per share.

Multiverse Mining & Exploration shed 9.68 per cent to close at N9.80, while RT Briscoe (Nigeria) lost 9.09 per cent to close at N3.50, per share.

The total volume of trade increased by 168.02 per cent to 2.698 billion units, valued at N32.630 billion, and exchanged in 35,137 deals. Transactions in the shares of Consolidated Hallmark Holdings topped the activity chart with 1.015 billion shares valued at N2.668 billion. Linkage Assurance followed with 562.319 million shares worth N978.435 million, while Sterling Financial Holdings Company traded 183.771 million shares valued at N1.498 billion.

AIICO Insurance traded 90.682 million shares valued at N262.977 million, while Zenith Bank transacted 60.351 million shares worth N4.547 billion.