Stock Market Sustains Positive Momentum With 0.19% Gain

The Nigerian equities market sustained its positive momentum on Wednesday, recording another gain as buying interest continued to support investor sentiment across the bourse.

The All-Share Index (ASI) advanced by 473.46 points, representing a gain of 0.19 per cent to close at 254,762.81. The positive performance reflects continued investor confidence and renewed buying interest in the equities market.

Consequently, equity market capitalisation increased by N307 billion to close at N165.415 trillion.

Market sentiment turned bullish, with 27 advancers outnumbering 23 decliners. Transcorp Power led the gainers’ chart, appreciating by 9.97 per cent to close at N203.00, per share. Caverton Offshore Support Group followed with a 9.84 per cent gain to close at N3.35, while eTranzact International rose 9.68 per cent to close at N17.00, per share.

Haldane McCall gained 7.36 per cent to close at N3.50 and International Energy Insurance appreciated by 7.27 per cent to close at N1.77, per share.

On the losers’ side, Eterna led the decline, shedding 9.94 per cent to close at N38.50, per share. Sovereign Trust Insurance followed with a decline of 9.91 per cent to close at N.91, while Learn Africa dropped 9.84 per cent to close at N8.25, per share.

Cornerstone Insurance declined by 9.30 per cent to close at N3.90, and Mutual Benefits Insurance lost 6.85 per cent to close at N2.72, per share.

Meanwhile, trading activity was mixed, as turnover and volume advanced by 65.66 per cent and 5.11 per cent to N37.46 billion and 552.31 million shares, respectively, while deal count declined by 15.88 per cent to 32,874 transactions.

APT Securities & Funds Limited stated that “overall, the session was characterized by bullish sentiment and improved trading turnover, as the market recorded another positive close alongside a significant increase in transaction value.”