KEY POINTS
• Market capitalisation rose N652 billion to N158.399 trillion.
• All Share Index gained 0.41 per cent to 244,304.51 points.
• NGX Group and Aradel Holdings led the gainers, while Ecobank Transnational Incorporated topped the decliners.
MAIN STORY
Nigeria’s equities market added N652 billion on Tuesday as renewed buying interest lifted the value of listed stocks and extended the market’s recent positive run.
Market capitalisation increased from N157.747 trillion at the opening to N158.399 trillion at the close, representing a 0.41 per cent gain.
The All Share Index also advanced by 1,005.27 points to 244,304.51 points, compared with 243,299.24 points recorded at the previous session.
The latest increase pushed the market’s Year to Date return to 56.99 per cent, reflecting continued gains in the domestic equities market.
Trading closed with positive breadth as 34 stocks appreciated against 26 decliners.
NGX Group recorded the strongest gain, rising 9.95 per cent to N179 per share. Aradel Holdings followed with a 9.62 per cent increase to N1,550, while Sovereign Trust Insurance gained 9.50 per cent to N1.96.
Mc Nicholas rose 9.09 per cent to N4.80, while International Breweries advanced 8.50 per cent to N10.85.
Ecobank Transnational Incorporated recorded the biggest decline, falling 10 per cent to N66.60 per share.
Trans Nationwide Express declined 9.93 per cent to N2.45, while AVA Capital lost 9.90 per cent to N4.55. PZ Cussons dropped 9.52 per cent to N75.10, while Prestige Assurance fell 8.72 per cent to N1.36.
Trading activity also increased during the session, with 505.12 million shares exchanged in 71,635 transactions.
The shares were valued at N36.29 billion, pointing to stronger activity across the market compared with the preceding session.
Mutual Benefits accounted for the largest volume, with 39.01 million shares, representing 7.49 per cent of total turnover.
Aradel Holdings recorded the highest value of transactions at N6.35 billion, accounting for 17.09 per cent of the day’s total.
THE ISSUES
- The market’s continued advance has lifted its Year to Date return to 56.99 per cent, showing that the positive trend has persisted despite losses in several listed stocks.
- The positive market breadth indicates that gains were spread across more equities than the number that declined during Tuesday’s session.
- Higher trading volume, transaction value and number of deals point to increased activity among market participants during the session.
- The sharp movements among both gainers and decliners show that individual stock performance remained uneven even as the broader market closed higher.
WHAT’S NEXT
The market’s next session will show whether the current upward momentum is sustained and whether buying interest continues across listed equities.
BOTTOM LINE
The equities market added N652 billion on Tuesday as the All Share Index rose 0.41 per cent. Increased trading activity accompanied the gain, although several stocks recorded significant declines.
