The Nigerian equities market started the new trading week on a strong note, recording a gain of N209 billion in market capitalization. The overall market cap surpassed N130 trillion, reflecting renewed investor confidence.
The All Share Index (ASI) climbed 324.21 points, a 0.16% increase, closing at 202,023.10 points and lifting the year-to-date return to 29.82%. The growth was primarily driven by medium and large-cap stocks, including Cadbury Nigeria, Aradel Holdings, Nigerian Exchange Group, First HoldCo, and Guaranty Trust Holding Company (GTCO).
Despite the broad gains, market breadth was mixed with 37 declining stocks outpacing 23 advancing shares. Trans-Nationwide Express led with a 9.86% increase to N3.12 per share, followed by Omatek Venture at 9.76%, and Cadbury Nigeria at 9.53%. First HoldCo rose by 9.10%, while Fortis Global Insurance added 6.50%. Analysts at Futureview Group advise cautious trading, emphasizing fundamentally strong stocks with attractive valuations.
On the downside, Ellah Lakes dropped 10% to N10.80 per share, DAAR Communications fell 9.95% to N1.72, and Chams Holding Company lost 9.87% to N3.38. John Holt and SUNU Assurance also recorded declines of 9.71% and 9.68%, respectively, signaling continued sector-specific volatility.
Investor activity surged, with total trading volume rising 105.85% to 1.153 billion units worth N40.281 billion across 78,006 deals. Wema Bank led transactions with 282.584 million shares valued at N7.291 billion, followed by Access Holdings and VFD Group. First HoldCo and GTCO also saw significant trade activity, reinforcing the market’s strong opening week performance.
source: Leadership