Stocks Edge Higher As Market Capitalisation Hits N130trn

The Nigerian stock market sustained its positive momentum on Tuesday, with market capitalisation rising to N130 trillion, driven by gains across key sectors and improved investor sentiment.

The All Share Index (ASI) gained 1,084.52 points, representing a growth of 0.54 per cent to close at 202,559.41 points. Also, market capitalisation rose by N696 billion to close at N130.026 trillion.

The upturn was driven by gains recorded in medium- and large-capitalised stocks, including BUA Cement, Nigerian Aviation Handling Company (NAHCO), Zenith Bank, Dangote Cement, and Guaranty Trust Holding Company (GTCO).

Imperial Asset Managers said that “overall, the session reflects sustained investor optimism, supported by continued demand for fundamentally sound stocks and improved market liquidity.”

On market outlook, United Capital Plc said, “the market’s structural bull run remains intact, supported by the CBN’s rate cut and improving macro visibility, but investors should remain alert to global risk-off sentiment and potential profit-taking as valuations stretch.”

Market breadth was positive, with 39 advancing stocks surpassing 34 declining counters. BUA Cement followed with a gain of 10 per cent to close at N326.70, per share. Premier Paints followed with a gain of 9.86 per cent to close at N23.40, while Zenith Bank was up by 7.91 per cent to close at N111.15, per share.

NAHCO up by 7.14 per cent to close at N175.60, while R.T. Briscoe and VFD Group rose by 6.67 per cent each to close at N11.20 and N12.00 respectively, per share.

On the other hand, Presco led the losers’ chart by 10 per cent to close at N1,875.60, per share.

Caverton Offshore Support Group followed with a decline of 8.70 per cent to close at N6.30, while Secure Electronic Technology declined by 7.69 per cent to close at N1.20, per share.

Guinea Insurance depreciated by 6.43 per cent to close at N1.31, while International Breweries declined by 6.35 per cent to close at N14.00, per share.

Also, the total volume traded surged by 41.22 per cent to 1.752 billion units, valued at N88.095 billion, and exchanged in 62,654 deals. Transactions in the shares of FCMB Group topped the activity chart with 516.227 million shares valued at N6.555 billion. Wema Bank followed with 213.386 million shares worth N5.566 billion, while Zenith Bank traded 163.107 million shares valued at N18.100 billion.

Access Holdings traded 123.850 million shares valued at N3.168 billion, while GTCO sold 100.017 million shares worth N12.356 billion.