Eterna, Caverton lift stock market with N288bn gains

The Nigerian equities market opened the week on a positive note gaining 0.18 per cent as investors’ wealth rose by N288 billion.

The gain was driven by buying interest in Eterna, Caverton Offshore Support Group, Omatek Ventures, AVA Capital, Vitafoam and 20 other stocks that advanced during the session.

Market capitalization, which opened at N158.326 trillion, rose by N288 billion, or 0.18 per cent, to close at N158.614 trillion.

Similarly, the All-Share Index increased by 446.85 points, or 0.18 per cent, to settle at 245,283.68, compared with 244,836.83 recorded on Friday. The gain lifted the market’s year-to-date return to 57.91 per cent.

Despite the overall positive performance, market breadth closed negative, with 39 stocks recording losses against 25 gainers.

Ecobank Transnational Incorporated led the losers’ chart, declining by 9.95 per cent to close at N80.10. Cadbury followed with a 9.92 per cent loss to N58.10, while Thomas Wyatt Nigeria fell by 9.82 per cent to N3.95 per share.

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WAPIC shed 9.80 per cent to close at N2.30, while Critical Minerals Financing Corporation declined by 9.79 per cent to settle at N3.50 per share.

On the gainers’ chart, Eterna and Caverton Offshore Support led with 10 per cent increases each, closing at N36.30 and N5.50 per share, respectively.

Omatek Ventures gained 9.88 per cent to close at N1.78, while AVA Capital rose by 9.70 per cent to N9.05. Vitafoam also advanced by 7.90 per cent to N194 per share.

Market activity weakened during the session, with investors exchanging 923.01 million shares worth N37.85 billion in 72,544 deals. This represented a 2.12 per cent decline in traded volume.

Access Corporation led trading volume with 166.64 million shares, accounting for 18.05 per cent of total volume traded.

Aradel led the value chart, recording transactions worth N4.59 billion, representing 12.12 per cent of the day’s total value traded.

NAN