Nigerian Stock Market Gains N795bn As Bullish Run Boosts Investor Confidence

The Nigerian stock market kicked off the week on a strong bullish trend, with the All-Share Index (ASI) rising by 0.79% to close at 104,418.95 points. This surge resulted in a significant N794.81 billion gain for investors, as market capitalization increased by 1.24% to N64.44 trillion. A major boost came from the listing of over 4.7 billion ordinary shares of Guaranty Trust Holding Company Plc (GTCO), adding N471.4 billion in value to the market.

The rally was driven by notable price increases in key stocks such as ACCESSCORP, FBNH, and UBA, alongside strong investor interest in NESTLE. Market sentiment remained positive, with 38 gainers surpassing 30 losers. Top-performing stocks like BETAGLAS, RTBRISCOE, and ACCESSCORP recorded gains of nearly 10%, while MRS, TRANSCOHOT, and EUNISELL experienced declines. Sectoral performance was mixed, with Banking, Consumer Goods, and Commodity indices showing growth, while Insurance, Oil/Gas, and Industrial Goods sectors lagged.

Trading activity was vibrant, with deal numbers and total trade value increasing significantly by over 50%, despite a slight decline in total volume traded. ACCESSCORP led in traded volume with 51 million units, while ZENITHBANK recorded the highest trade value at N1.7 billion. The overall market outlook suggests growing investor confidence, setting a positive tone for the week’s trading.

Source: THE SUN