The Nigerian equities market commenced the week on a bullish note, with the All-Share Index (ASI) rising by 0.18 percent to close at 131,826.77 basis points.
At the Nigerian Exchange Limited (NGX), the bullish momentum for the day was supported by demand in BUA Cement, Honeywell Flour Mills and Fidelity Bank, as these company’s share prices appreciated by 5.19 percent, 7.12 percent and 3.12 percent, respectively. These gains outweighed profit-taking in Guaranty Trust Holding Company, Zenith Bank and United Bank of Africa
This positive momentum lifted the Month-to-Date and Year-to-Date returns to +9.9 percent and +28.1 percent, respectively, reflecting sustained investor optimism and deepening confidence in the resilience of the domestic market.
Market capitalization also witnessed a significant boost, gaining N152 billion to settle at N83.39 trillion.
This uptick underscores improved market liquidity and a strong appetite for fundamentally sound stocks.
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Despite the upbeat performance, market breadth tilted slightly negative, as 31 stocks advanced while 44 declined, suggesting a mix of bargain hunting and profit-taking activities.
On the performance board, International Energy Insurance and NCR led the gainers having appreciated by 10 percent, respectively, while Meyer and McNicholas recorded the most significant losses of the day after their respective share prices dipped by 10 percent.
Sectoral performance was mixed, influenced by renewed investor interest in specific counters. The Consumer Goods, Industrial Goods, and Commodities sectors advanced by 0.06 percent, 1.50 percent and 0.50 percent, respectively.
In contrast, the Banking, Insurance, and Oil & Gas sectors recorded declines of 0.37 percent, 1.35 percent, and 0.10 percent, respectively.
Trading activity was relatively muted. Total volume and value of transactions dropped by 78.91 percent and 65.44 percent, respectively, even as the number of deals increased by 7.54 percent.
Investors exchanged 706.04 million shares valued at N21.56 billion across 30,750 deals.
Access Holdings led the volume chart with 61.73 million units trades while Presco led the value chart in deals worth N3.11 billion.
NIGERIAN TRIBUNE