The Nigerian equities market yesterday commenced the trading activities for the month of June, 2025 on a bullish note as gains in MTN Nigeria Communications (MTNN) Plc and 22 others pulled the overall capitalization up by N102 billion.
The All-Share Index (ASI) rose by 273.95 points, representing a gain of 0.25 per cent to close at 112,015.96 points. Also, market capitalisation rose by N172 billion to close at N70.635 trillion.
The upturn was driven by price appreciation in large and medium capitalised stocks amongst which are; MTNN, Oando, Dangote Sugar Refinery, Livestock Feeds and Multiverse Mining & Exploration.
Looking forward, United Capital said, “the equities market might be mildly positive leading to a slight gain in the ASI. This is hinged on the market benefiting from the spillover effect of excess liquidity in the financial system. Similarly, investors might start positioning for Q2-earning season in June, favoring corporates with FX gains, cost control, clear growth trajectory, and those with potentials for quality interim dividend payment.
“We expect retail investors to continue to take profit from previous week’s gains, tactically slowing the upward movement of the equities market. We advise investors to cherry pick fundamentally sound stocks with potential for interim dividend payment.”
Market breadth was negative, with 33 decliners outweighing 23 gainers, indicating that the bullish sentiment was narrow and not broadly supported across sectors. Multiverse Mining & Exploration emerged the highest price gainer of 9.87 per cent to close at N8.35, per share.
Livestock Feeds followed with a gain of 9.57 per cent to close at N10.30, while Lasaco Assurance rose by 8.11 per cent to close at N2.80, per share. NEIMETH International Pharmaceuticals declined by 8.06 per cent to close at N3.35, while Royal Exchange advanced by 7.50 per cent to close at 86 kobo, per share.
On the other side, Legend Internet led others on the losers’ chart with 9.90 per cent to close at N5.55, per share. Secure Electronic Technology followed with a decline of 9.84 per cent to close at 55 kobo, while eTranzact International shed 9.56 per cent to close at N6.15, per share.
University Press lost 9.32 per cent to close at N5.35, while McNichols depreciated by 7.31 per cent to close at N2.41, per share.
Also, the total volume traded declined by 73.12 per cent to 517.950 million units, valued at N10.070 billion, and exchanged in 17,019 deals. Transactions in the shares of Fidelity Bank led the activity with 98.820 million shares worth N1.878 billion. Royal Exchange followed with an account of 58.445 million shares valued at N50.242 million, while Access Holdings traded 55.165 million shares valued at N1.207 billion.
Cutix traded 32.261 million shares worth N101.048 million, while United Capital traded 27.178 million shares worth N534.385 million.
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