Equities gain N1.2tn in market value

The Nigerian equities equities market sustained its positive trend on Friday, closing with N1.2 trillion gain in market value due to strong buying interest in industrial and insurance stocks.

At the close of trading, the market capitalisation rose from N123.934 trillion to N125.164 trillion, representing an increase of 0.99 per cent or N1.230 trillion.

Similarly, the All-Share Index advanced by 0.99 per cent, gaining 1,916.20 points to close at 194,989.77, compared to 193,073.57 recorded in the previous session.

The market’s upward trend was largely driven by persistent buying interest and ongoing bargain hunting, supported by positive momentum in medium and large cap stocks across major sectors.

The rally was further underpinned by renewed investor confidence in industrial and insurance stocks, which recorded significant price gains of 2.28 per cent and 2.52 per cent, respectively, amid sustained demand.

Also Read: Equities positive, adds N1.8tr to investors’ portfolios

Consequently, the Year-To-Date return increased further to 25.30 per cent.

Also, the market breadth closed positive with 53 gainers and 23 losers.

Fidson, Jaiz Bank and NPF Microfinance Bank led the advancers’ chart by 10 per cent each, settling at N86.90, N11 and N6.27 per share, respectively.

Deap Capital Management grew by 9.96 per cent, finishing at N7.62 and Custodian Investment gained by 9.94 per cent, closing at N70.25 per share.

On the other side, Secure Electronic Technology led the decliners’ chart by 10 per cent, ending the session at N1.62, Sovereign Trust Insurance trailed by 9.73 per cent, settling at N2.32 while Ellah Lakes declined by 7.91 per cent, finishing at N12.80 per share.

International Energy Insurance shed by 5.56 per cent, closing at N3.40 and ABC Transport dipped by 5.26 per cent, ending the session at N9 per share.

820.5 million shares valued at N28.3 billion were traded across 63,507 transactions, as against the previous session’s 898.5 million shares worth N38.5 billion that was exchanged in 61,953 deals.

This revealed a 6.13 per cent decline in market volume, 26 per cent drop in value but three per cent growth in deals.

Mutual Benefits recorded the highest volume with 79.02 million shares traded, accounting for 9.63 per cent of the day’s total volume.

Zenith Bank recorded the highest value at N3.79 billion, accounting for 13.37 per cent of value traded for the day.

NAN