Stocks Market Gains N209bn As Investors Begin Week On Positive Note

The Nigerian equities market began the trading week on a positive note, gaining N209 billion as investors showed renewed confidence, pushing total market capitalisation above N130 trillion.

At the close of trading, the All-Share Index (ASI) advanced by 324.21 points, representing a 0.16 per cent increase to settle at 202,023.10 points. This lifted the year-to-date return to 29.82 per cent, while market capitalisation rose by N209 billion to close at N130.015 trillion.

The upbeat performance was largely driven by gains in medium and large capitalised stocks, including Cadbury Nigeria Plc, Aradel Holdings Plc, Nigerian Exchange Group Plc, First HoldCo Plc and Guaranty Trust Holding Company Plc.

On the market outlook, analysts at Futureview Financial Services Limited said investors are expected to remain cautious, focusing on fundamentally strong stocks with attractive valuations.

Despite the overall gain, market breadth closed negative, with 37 decliners outweighing 23 advancers.

Among the top gainers, Trans-Nationwide Express Plc led with a 9.86 per cent increase to close at N3.12 per share. Omatek Ventures Plc followed with a 9.76 per cent gain to N2.25, while Cadbury Nigeria rose by 9.53 per cent to N75.25 per share.

First HoldCo appreciated by 9.10 per cent to close at N54.55, while Fortis Global Insurance Plc gained 6.50 per cent to settle at N1.31 per share.

On the losers’ chart, Ellah Lakes Plc recorded the highest decline of 10 per cent to close at N10.80 per share.
DAAR Communications Plc shed 9.95 per cent to N1.72, while Chams Holding Company Plc dropped 9.87 per cent to N3.38 per share.

John Holt Plc declined by 9.71 per cent to close at N13.95, while SUNU Assurances Nigeria Plc fell by 9.68 per cent to N4.20 per share.

Trading activity was significantly stronger, with total volume rising by 105.85 per cent to 1.153 billion units valued at N40.281 billion, exchanged in 78,006 deals.

Activity chart was dominated by Wema Bank Plc, which traded 282.584 million shares worth N7.291 billion. Access Holdings Plc followed with 125.173 million shares valued at N3.250 billion, while VFD Group Plc recorded 106.831 million shares worth N1.127 billion.

First HoldCo traded 62.963 million shares valued at N3.186 billion, while GTCO recorded 56.586 million shares worth N7.054 billion.