KEY POINTS
• Market capitalisation rose by N344 billion to N163.999 trillion as equities recovered from Friday’s losses.
• All Share Index gained 0.21 per cent to close at 252,635.11, lifting the year to date return to 62.35 per cent.
• Trading activity strengthened, with 1.01 billion shares worth N39.02 billion exchanged in 61,517 deals.
MAIN STORY
Nigerian equities regained ground on Monday, adding N344 billion to market value as buying interest returned across 33 stocks and pushed the benchmark index higher.
Market capitalisation increased to N163.999 trillion from N163.655 trillion at the previous session, while the All Share Index rose 521.70 points to 252,635.11.
The 0.21 per cent gain also lifted the market’s year to date return to 62.35 per cent, reversing part of the decline recorded in the preceding trading session.
University Press emerged as the strongest performer, gaining 9.89 per cent to close at N5 per share. Critical Minerals Financing Corp. followed with a 9.82 per cent increase to N3.58, while ABC Transport advanced 9.80 per cent to N5.60.
Eterna rose 9.62 per cent to N42.75, while Sovereign Trust Insurance gained 9.17 per cent to N2.62.
The positive session was reflected in market breadth, with 33 stocks recording gains compared with 24 decliners.
Fortis Global Insurance recorded the sharpest decline, falling 9.50 per cent to N1.81. Trans Nationwide Express lost 8.47 per cent to N2.70, while FG162029S1 declined 6.67 per cent to N70.
RT Briscoe dropped 6.07 per cent to N10.05 and WAPIC shed 4.74 per cent to close at N2.21.
Trading activity also picked up during the session, with investors exchanging 1.01 billion shares valued at N39.02 billion across 61,517 transactions.
Fidelity Bank dominated market activity, accounting for 528 million shares valued at N10.63 billion. Its trades represented 51.52 per cent of total volume and 26.88 per cent of the day’s traded value.
THE ISSUES
- The broad based gains indicate that Monday’s recovery was not limited to a single group of stocks, with 33 equities advancing against 24 that declined.
- The rise in market capitalisation and the All Share Index shows that the session restored part of the value lost in the previous trading period, while the year to date return remained firmly positive at 62.35 per cent.
- The concentration of trading in Fidelity Bank points to strong activity in selected counters, even as overall market volume and value increased during the session.
WHAT’S NEXT
The market will look to sustain the renewed buying interest in subsequent sessions, with investors likely to continue responding to movements in individual equities and overall market conditions.
BOTTOM LINE
The Nigerian equities market started the week on a stronger footing, recovering N344 billion in value as gains across several stocks combined with heavier trading activity to lift the benchmark index.
