In a strong finish to the week, the Nigerian stock market closed on a positive note, with investors adding N99 billion to their portfolios. The market capitalisation of listed equities increased by N99 billion, or 0.18 per cent, climbing from N55.379 trillion to N55.478 trillion. The All-Share Index also saw a boost, rising by 0.18 per cent, or 172.13 points, to settle at 96,580.01, up from 96,407.88 on Thursday. This performance pushed the Year-To-Date (YTD) return to an impressive 29.16 per cent.
The market’s upward trend was fueled by investor interest in key stocks such as FBN Holdings, Guaranty Trust Holding Company (GTCO), Total Energies, Oando Plc, and Transnational Corporation. The market breadth maintained its positive momentum, with 27 gainers outnumbering 25 losers on the floor of the Exchange.
Leading the gainers’ chart, Berger Paints and Deap Capital Management and Trust Plc both surged by 10 per cent, closing at N14.30 and 88k per share, respectively. Oando followed closely with a 9.94 per cent increase to close at N76.90, while McNichols and Daar Communications advanced by 9.93 per cent and 8.96 per cent, respectively.
On the losing side, Eterna Plc led the chart with a 9.95 per cent drop to close at N27.60. RT Briscoe and Tantalizers also faced declines, losing 9.90 per cent and 7.25 per cent, respectively.
Analysis of market activities revealed a substantial increase in trade turnover, with transaction values soaring by 326 per cent. A total of 573.96 million shares worth N31.58 billion were traded in 12,754 deals, a significant rise from the previous session’s 966.97 million shares valued at N7.42 billion in 9,851 deals. Julius Berger emerged as the most traded stock by both volume and value, with 120.76 million shares worth N19.63 billion.
Credit: NAN (Text Excluding Headline)
