The Nigerian equities market, yesterday, began the trading week in a positive position as investors’ investments rose by N262 billion.
Precisely, the All-Share Index up by 227.68 points, representing a gain of 0.24 per cent to close at 96,205.85 points. Also, market capitalisation appreciated by N262 billion to close at N88.199 trillion.
The upturn was driven by price appreciation in large and medium-capitalised stocks, including Transcorp Power, NASCON Allied Industries, Dangote Sugar Refinery, PZ Cussons Nigeria, and Cadbury Nigeria.
Looking ahead, Coronation Asset Management said, “We expect market sentiment to remain cautious, pressured by continued profit-taking. Nonetheless, bargain-hunting in fundamentally sound counters, particularly ahead of Q3 earnings and most Tier-1 banking H1 2025 releases, could provide intermittent support to the ASI.”
As measured by market breadth, market sentiment was positive, as 41 stocks gained relative to 18 losers. PZ Cussons Nigeria and University Press emerged the highest price gainer of 10 per cent each to close at N35.20 and N5.50 respectively, while Ellah Lakes followed with a gain of 9.94 per cent to close at N14.27, per share.
Legeng Internet rose by 9.90 per cent to close at N5.44, while NCR Nigeria advanced by 9.84 per cent to close at N13.95, per share. On the other side, Industrial & Medical Gases Nigeria, Nigerian Enamelware, Thomas Wyatt Nigeria and Union Dicon Salt led others on the losers’ chart with 10 per cent each to close at N33.30, N35.10, N2.70 and N10.80 respectively, per share. Academy Press followed with a decline of 9.95 per cent each to close at N8.60, while Eterna declined by 9.36 per cent to close at N31.00 per share.
The total volume of trade decreased by 47.50 per cent to 947.871 million units, valued at N17.972 billion and exchanged in 36,036 deals. Transactions in FCMB Group shares led the activity, with 460.949 million shares worth N53.391 million.
Universal Insurance followed with a volume of 42.221 million shares valued at N6.420 billion, while Royal Exchange traded 35.224 million shares valued at N72.499 million.
Zenith Bank traded 26.734 million shares worth N1.732 billion, while First Holdco traded 25.906 million shares worth N791.009 million.
