Year-end Rally Lifts Equities Market Up By N411bn

The Nigerian equities market yesterday maintained its positive momentum, with overall capitalisation expanding by N411 billion, reflecting sustained optimism ahead of year-end positioning.

The All Share Index (ASI) gained by 645.19 points, representing a growth of 0.42 per cent to close at 155,034.72 points. Additionally, market capitalisation increased by N411 billion to close at N98.843 trillion.
The upturn was driven by gains recorded in medium- and large-capitalised stocks, including BUA Foods, Julius Berger Nigeria, Eunisell Interlinked, BUA Cement, and Fidson Healthcare.

Imperial Asset Managers Limited said, “At the equity market session today, near-term sentiment remains cautiously optimistic, supported by strong year-to-date performance, sustained interest in fundamentally sound and liquid stocks, and ongoing portfolio rebalancing ahead of the year-end.

“However, trading activity is expected to remain selective and range-bound, as investors lock in profits in outperforming sectors while awaiting clearer cues from macroeconomic developments, liquidity conditions, and early positioning ahead of the new trading year.”

Market sentiment was bullish, with 46 advancing stocks outweighing 24 declining counters. Guinea Insurance, Honeywell Flour Mills and Julius Berger recorded the highest price gain of 10 per cent each to close at N1.32, N21.45 and N152.90 respectively, per share.

Austin Laz & Company appreciated by 9.94 per cent to close at N3.87, while Multiverse Mining & Exploration up by 9.88 per cent to close at N13.35 per share.

On the other hand, Union Dicon Salt and LivingTrust Mortgage Bank led the losers’ chart by 10 per cent each to close at N6.30 and N3.42 respectively, while First HoldCo followed with a decline of 9.94 per cent to close at N44.40, per share.

Veritas Kapital Assurance depreciated by 7.47 per cent to close at N1.61, while Mutual Benefits Assurance declined by 7.46 per cent to close at N3.10, per share.

Also, the total volume traded increased by 223.84 per cent to 4.684 billion units, valued at N38.865 billion, and exchanged in 34,852 deals. Transactions in the shares of Cornerstone Insurance topped the activity chart with 3.670 billion shares valued at N18.535 billion. FCMB Group followed with 302.352 million shares worth N3.326 billion, while Wema Bank traded 97.390 million shares valued at N1.865 billion.

Access Holdings traded 75.072 million shares valued at N1.634 billion, while Chams Holding Company sold 47.539 million shares worth N169.483 million.