Stocks Rebound, Add N3.2trn as Market Cap Crosses N147trn

The Nigerian stock market staged a strong rebound, adding N3.204 trillion in market capitalisation as investors returned to the equities space, pushing the overall value above the N147 trillion mark and reversing previous session losses.

The All-Share Index (ASI) climbed by 4,977.51 points, representing a 2.23 per cent increase, to close at 228,579.80 points. In the same vein, market capitalisation rose to N147.174 trillion, reflecting renewed bullish sentiment across key sectors.

The market’s positive performance was largely driven by price appreciation in large and medium-cap stocks including Presco, Aradel Holdings, BUA Foods, Dangote Cement, and Lafarge Africa, which supported the broad-based recovery.
Analysts at Cowry Assets Management Limited said the market was likely to maintain its upward trajectory in the next trading session.

“Heading into Wednesday’s session, the market is expected to sustain its bullish momentum, underpinned by positive investor sentiment and the added boost of the extended trading period,” the firm stated.
Despite the strong rebound, market breadth closed slightly negative, with 40 stocks declining compared to 39 gainers, indicating selective buying across the market.

Industrial & Medical Gases Nigeria, FTN Cocoa Processors, and Lafarge Africa led the gainers’ chart, appreciating by 10 per cent each to close at N39.60, N5.50, and N324.50 respectively. Austin Laz & Company rose by 9.71 per cent to N3.73, while Presco and Aradel Holdings advanced by 9.52 per cent each to close at N2,300.00 and N1,840.00 per share.

On the losers’ side, United Bank for Africa (UBA) led the decliners, shedding 10 per cent to close at N44.55 per share. Trans-Nationwide Express fell by 9.99 per cent to N6.40, while NASCON Allied Industries dropped 9.18 per cent to N187.90 per share.

Jaiz Bank declined by 8.98 per cent to N8.01, while Berger Paints lost 8.66 per cent to close at N68.00 per share.

Trading activity also strengthened, as total volume rose by 41.50 per cent to 959.634 million units, valued at N70.470 billion, across 74,848 deals.

Access Holdings dominated trading activity with 219.509 million shares worth N5.784 billion. Fidelity Bank followed with 64.375 million shares valued at N1.201 billion, while Wema Bank recorded 49.270 million shares worth N1.75 billion.

Other active stocks included Linkage Assurance with 47.524 million shares valued at N76.452 million, and Zenith Bank with 39.847 million shares worth N4.860 billion.