SeseThe Nigerian stock market closed the week on a bullish note, with investors’ wealth rising by N1.383 trillion as renewed buying interest in blue-chip and other actively traded stocks lifted the benchmark index by 0.90 per cent.
The market capitalization increased from N154.442 trillion at Thursday’s close to N155.825 trillion on Friday, while the Nigerian Exchange All-Share Index, ASI, climbed by 2,142.38 points, from 239,156.09 to 241,298.47.
The strong performance came a day after the market ended an 11-session losing streak, when the ASI gained 0.20 per cent and market capitalization rose by N306 billion.
The latest rally was supported by gains across several stocks, led by Seplat Energy, Transcorp Hotels, Omatek Ventures, Daar Communications and University Press. The improvement pushed the market’s year-to-date return to 55.06 per cent.
Market breadth also strengthened, with 33 stocks recording price gains against 19 decliners, indicating broader buying interest at the close of trading.
Seplat Energy topped the gainers’ table, advancing by 10 per cent to close at N12,320.60 per share. Transcorp Hotels followed with a 9.76 per cent gain to N265.50, while Omatek Ventures rose 9.49 per cent to N1.50.
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Daar Communications gained 9.42 per cent to close at N1.51, while University Press appreciated by 8.57 per cent to N5.70 per share.
The session however, was not without significant losses. Total led the decliners, falling 10 per cent to N576 per share. Haldane McCall declined 8.78 per cent to N3.74, while Etranzact shed 8.62 per cent to N13.25. Austinlaz also fell by 7.41 per cent to N2.50, while AVA Capital declined 7.14 per cent to N6.50 per share.
Trading activity increased during the session, with 605.17 million shares valued at N29.87 billion exchanged in 38,421 deals. This compared with 499.96 million shares worth N35.15 billion traded in 40,323 transactions on Thursday.
The figures represent a 21.04 per cent increase in trading volume, although the value of transactions declined from the previous session, suggesting that the higher volume was not matched by a corresponding increase in turnover value.
Jaiz Bank emerged as the most actively traded stock by volume, with 210.71 million shares changing hands, accounting for 34.82 per cent of the total volume traded.
Transcorp Hotels dominated trading by value, with transactions worth N6 billion, representing 20.08 per cent of the session’s total value.
The market has remained volatile in recent weeks despite its strong year-to-date performance, with investors alternating between profit-taking and renewed buying across major stocks. The latest gains therefore mark a stronger recovery as the NGX heads into the final trading sessions of August.
NAN
