Bulls Return As Stock Market Records N104bn Gain

The Nigerian equities market rebounded marginally as renewed buying interest supported investor sentiment across the bourse.

The NGX All-Share Index advanced by 0.06 per cent to 247,673.65 points, raising its year-to-date return to 59.16 per cent and adding N104 billion to market capitalisation, which stood at N160.81 trillion.

The modest recovery reflects mild bargain-hunting activities following the previous session’s decline, although overall market sentiment remains cautious.

As measured by market breadth, market sentiment was positive, as 31 stocks gained relative to 17 losers. Austin Laz and Company recorded the highest price gain of 10 per cent to close at N2.42, per share. eTranzact International followed with a gain of 9.76 per cent to close at N15.75, while Livestock Feeds rose by 9.71 per cent to close at N16.95, per share.

Critical Minerals Financing Corporation (CMFC) up by 9.60 per cent to close at N3.54, while Fortis Global Insurance appreciated by 9.38 per cent to close at N1.75, per share.

On the other hand, UPDC led the losers’ chart by 6.02 per cent to close at N3.90, per share. Regency Alliance Insurance followed with a decline of 4.88 per cent to close at 78 kobo, while Veritas Kapital Assurance down by 3.57 per cent to close at N1.08, per share.

R.T. Briscoe shed 3.14 per cent to close at N9.25, while Chams Holding Company lost 2.78 per cent to close at N3.50, per share.

Trading activity was mixed compared to the previous session, reflecting varying levels of market participation. Total traded volume declined by 20.1 per cent to 314.91 million units from 394.20 million units, while transaction value increased by 33.7 per cent to N28.59 billion from N21.38 billion. Deal count declined by 20.0 per cent to 30,956 transactions from 38,707. The mixed performance across key activity indicators suggests lower trading volume and deal count despite higher transaction value.

On market outlook, Imperial Asset Managers Limited said, “looking ahead, the stronger advance/decline ratio is constructive, but sustained upside will require broader heavyweight support and a recovery in ordinary market turnover beyond isolated large trades.”