Stock Market Index Crosses 100,000 Points Mark

Extending its winning streak for the sixth consecutive session, the Nigerian stock market maintained the positive momentum as the benchmark index yesterday crossed the 100,000 mark, a milestone last reached on July 25, 2024.

The All-Share Index (ASI) gained by 128.31 points, representing a growth of 0.13 per cent to close at 100,050.94 points. Also, market capitalisation gained N78 billion to close at N60.650 trillion.

The upturn was impacted by gains recorded in medium and large capitalised stocks, amongst which are; Aradel Holdings, MRS Oil Nigeria, Stanbic IBTC Holdings, Guaranty Trust Holding Company (GTCO) and Nigerian Exchange.

Meanwhile, investor sentiment, as measured by market breadth, closed slightly negative as 25 stocks advanced, while 26 declined. MRS Oil and Wapic Insurance recorded the highest price gain of 10 per cent each to close at N145.20 and N1.54, while Caverton Offshore Support Group followed with a gain of 9.68 per cent to close at N2.38, per share.

Lasaco Assurance appreciated by 9.41 per cent to close at N2.79, while Royal Exchange rose by 9.09 per cent to close at 72 kobo, per share.

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On the other hand, Cutix led the losers’ chart by 10 per cent, to close at N2.25, per share. Tantalizer followed with a decline of 9.73 per cent each to close at N1.67, while DAAR Communications declined by 7.02 per cent to close at 53 kobo, per share.

Oando depreciated by 6.10 per cent to close at N68.50, while FTN Cocoa Processors declined by 5.88 per cent to close at N1.76, per share.

However, the total volume traded decreased by 35.47 per cent to 478.081 million units, valued at N22.513 billion, and exchanged in 9,578 deals. Transactions in the shares of eTranzact International topped the activity chart with 70.232 million shares valued at N474.019 million. Transcorp Hotels followed with 69.966 million shares worth N7.416 billion, while Oando traded 26.433 million shares valued at N1.829 billion.

Veritas Kapital Assurance traded 21.304 million shares valued at N25.671 million, while Sterling Financial Holdings Company sold 19.355 million shares worth N94.791 million.