Equities Trading Starts August With N1.777trn Gain

The Nigerian equities market began the trading week in positive territory yesterday as buy interest in Dangote Cement Plc and 46 others pushed the market capitalisation up by N1.777 trillion.

The All-Share Index (ASI) gained 2,808.73 points, representing a gain of 1.99 per cent to close at 144,071.78 points. Also, market capitalisation rose by N1.777 billion to close at N91.150 trillion.

The upturn was driven by price appreciation in large and medium-capitalised stocks, including Dangote Cement, BUA Foods, Nigerian Aviation Handling Company (NAHCO), UACN, and BUA Cement.

On market performance this week, Imperial Asset Managers Limited analysts said, “We expect mixed tones to continue, supported by improving macroeconomic fundamentals, and the expectation of interim dividend declarations by Tier-1 Deposit Money Banks (DMBs).

With major banks yet to release their H1 2025 earnings, investors’ positioning will likely intensify in the coming days.

“However, some pockets of profit-taking are expected as traders recalibrate their portfolios. Meanwhile, we continue to advise that investors maintain a cautious stance and continue to prioritise stocks with strong fundamentals, healthy balance sheets, and resilient earnings potential.”

Investor sentiment, as measured by market breadth, closed positively as 47 stocks advanced, while 23 declined. Lasaco Assurance, Royal Exchange, and UPDC emerged as the highest price gainers, each 10 per cent each, to close at N2.86, N1.65, and 54 kobo per share. UACN followed with a gain of 9.97 per cent to close at N97.10, while Sovereign Trust Insurance rose by 9.94 per cent to close at N1.88, per share.

On the other hand, Academy Press and Transcorp Power led the losers’ chart with 10 per cent each to close at N9.90 and N288.00, respectively, while John Holts followed with a decline of 9.59 per cent to close at N6.60 per share.

TotalEnergies Marketing Nigeria declined by 9.22 per cent to close at N640.00, while Ecobank Transnational Incorporated (ETI) dipped by 9.21 per cent to close at N9.21 per share.

However, the total volume traded fell by 24.8 per cent to 811.096 million units, valued at N19.472 billion, and exchanged in 35,963 deals. Transactions in FCMB Group shares led the activity, with 84.949 million shares worth N979.416 million.

Universal Insurance followed with 82.512 million shares valued at N61.682 million, while Fidelity Bank traded 45.429 million shares valued at N955.598 million.

AIICO Insurance traded 40.149 million shares worth N94.292 million, while Veritas Kapital Assurance traded 39.770 million shares worth N60.257 million.