Blue-Chip Rally Pushes NGX Market Cap To N158.399trn

The Nigerian equities market maintained its bullish momentum yesterday, with the overall capitalisation advancing to N158.399 trillion.

The All-Share Index (ASI) gained by 1,005.27 points, representing a growth of 0.41 per cent to close at 244,304.51 points. Accordingly, market capitalisation rose by N652 billion to close at N158.399 trillion.

The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Aradel Holdings, Nigerian Exchange Group, HBM Nigeria, Nigerian Breweries and Zenith Bank.

Looking ahead, Cowry Assets Management Limited said, “we expect the bullish sentiment to persist into Wednesday’s trading session, supported by sustained investor interest and positive market breadth.”

Investor sentiment remained positive, with 34 stocks advancing against 26 decliners. Nigerian Exchange recorded the highest price gain of 9.95 per cent to close at N179.00, per share. Aradel Holdings followed with a gain of 9.62 per cent to close at N1,550.00, while Sovereign Trust Insurance up by 9.50 per cent to close at N1.96, per share.

McNichols appreciated by 9.09 per cent to close at N4.80, while International Breweries rose by 8.50 per cent to close at N10.85, per share.

On the other hand, Ecobank Transnational Incorporated (ETI) led the losers’ chart by 10 per cent to close at N66.60, per share. Trans-Nationwide Express followed with a decline of 9.93 per cent to close at N2.45, while AVA Capital declined by 9.90 per cent to close at N4.55, per share.

PZ Cussons Nigeria depreciated by 9.52 per cent to close at N75.10 and Prestige Assurance declined by 8.72 per cent to close at N1.36, per share.

Trading activity strengthened during the session, with total deals, volume, and turnover increasing by 31.22 per cent, 17.75 per cent, and 76.84 per cent, respectively. A total of 71,635 transactions were recorded, involving 505.12 million shares valued at N36.29 billion. Transactions in the shares of Mutual Benefits Assurance topped the activity chart with 38.995 million shares valued at N113.418 million. Guaranty Trust Holding Company (GTCO) followed with 37.413 million shares worth N4.860 billion, while Zenith Bank traded 30.575 million shares valued at N3.903 billion.

Fidelity Bank traded 27.804 million shares valued at N553.153 million, while AXA Mansard Insurance sold 22.873 million shares worth N271.836 million.