Equities Market Opens Week With N4bn Gain

The Nigerian equities market closed yesterday’s trading session on a marginally positive note, as mild bargain hunting supported a slight uptick in key market indicators.

The All Share Index (ASI) gained 5.38 points, representing a growth of 0.003 per cent to close at 165,517.56 points. Also, market capitalisation gained N4 billion to close at N105.963 trillion.

The marginal upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; NCR Nigeria, Skyway Aviation Handling Company, NASCON Allied Industries, Nigerian Aviation Handling Company (NAHCO) and SCOA Nigeria.

On market performance, Imperial Asset Managers Limited said, “Overall, yesterday’s session highlights a largely directionless market, as modest buying interest failed to generate meaningful upside amid lingering profit-taking. Investors remain cautious, with trading activity centered on selective opportunities rather than broad-based accumulation.”

On outlook, United Capital Plc stated that “Nigerian equity market may see moderate activity this week as investors balance economic fundamentals with earnings prospects. Capital could rotate into high-performing sectors, though cautious sentiment suggests selective stock picking will be key.”

Investor sentiment remained mildly negative, with the market breadth closing at 0.97x, as 36 decliners marginally outweighed 35 gainers. NPF Microfinance Bank recorded the highest price gain of 10 per cent to close at N5.61, per share. Morison Industries followed with an increase of 9.97 per cent to close at N8.27, while DEAP Capital Management & Trust up by 9.94 per cent to close at N7.85, per share.

Zichis Agro-Allied Industries up by 9.92 per cent to close at N2.88, while R.T. Briscoe (Nigeria) gained 9.87 per cent to close at N6.57 per share.

On the other hand, May & Baker Nigeria led the losers’ chart by 10 per cent to close at N39.15, per share. Neimeth International Pharmaceuticals followed with a decline of 9.81 per cent to close at N11.95, while ABC Transport declined by 9.33 per cent to close at N5.15 per share.

CWG depreciated by 9.05 per cent to close at N22.10, while Sovereign Trust Insurance declined by 8.97 per cent to close at N3.45 per share.

Meanwhile, the total volume traded declined by 17.77 per cent to 601.647 million units, valued at N17.304 billion, and exchanged in 58,429 deals. Transactions in the shares of Chams Holding Company topped the activity chart with 41.572 million shares valued at N210.054 million. Access Holdings followed with 34.353 million shares worth N768.560 million, while Guaranty Trust Holding Company (GTCO) traded 31.556 million shares valued at N3.109 billion.

Zenith Bank traded 25.976 million shares valued at N1.843 billion, while Guinea Insurance sold 25.042 million shares worth N33.232 million.