Investors in the Nigerian stock market saw gains of over ₦65 billion as financial sector stocks led a market rally. Both the banking and insurance sectors recorded price increases, with additional support from the consumer goods and industrial sectors.
The Nigerian stock market continued its positive momentum for the fourth consecutive trading session, driven by strong performances from key stocks, including:
- Ecobank Transnational Incorporated (ETI): +2.96%
- International Breweries (INTBREW): +1.89%
- United Capital (UCAP): +1.55%
- Sterling Bank (STERLINGNG): +1.18%
- Transcorp (TRANSCORP): +1.13%
- Fidelity Bank (FIDELITYBK): +1.02%
- United Bank for Africa (UBA): +0.66%
- Zenith Bank (ZENITHBANK): +0.60%
- Oando (OANDO): +0.43%
- Lafarge (WAPCO): +0.35%
As a result, the All-Share Index (ASI), which measures the overall performance of the stock market, rose by 0.1% to 105,430.15 points. This increase pushed the market’s performance for the month up by 0.9% and for the year by 2.4%.
Despite the gains, overall market activity declined, with the total volume of stocks traded dropping by 48.59% and the total value of trades falling by 19.06%. According to a report from Atlass Portfolios Limited, around 537.19 million units of stocks, valued at ₦23.03 billion, were exchanged in 15,450 transactions.
In terms of the most actively traded stocks:
- Access Holdings (ACCESSCORP): Led with 11.49% of total shares traded
- Sterling Bank (STERLINGNG): 9.36%
- Zenith Bank (ZENITHBANK): 7.56%
- First Bank (FBNH): 7.23%
- UPDC: 4.40%
The most valuable stock in terms of total trade was Geregu Power (GEREGU), which accounted for 36% of the total value of all trades.
The biggest stock gainers of the day were:
- Eterna (ETERNA) and Cadbury (CADBURY): +9.88% each
- Fidson (FIDSON) and UPDC: +9.77%
- Deap Capital (DEAPCAP): +9.38%
- Sovereign Trust Insurance (SOVRENINS): +9.09%
- Sky Aviation (SKYAVN): +8.75%
Meanwhile, 23 stocks saw losses, with the biggest decliners including:
- Tripple Gee (TRIPPLEG): -9.72%
- Veritas Kapital (VERITASKAP): -7.81%
- Caverton (CAVERTON): -5.53%
- Lasaco Assurance (LASACO): -3.23%
- Jaiz Bank (JAIZBANK): -2.86%
- Dangote Sugar (DANGSUGAR): -1.35%
Overall, the stock market saw 32 gainers and 23 losers, with all five major market sectors posting positive performance:
- Insurance: +0.63%
- Consumer goods: +0.18%
- Oil & Gas: +0.13%
- Banking: +0.09%
- Industrial: +0.04%
At the close of trading, the total market capitalization of the Nigerian Exchange had risen by ₦65.19 billion to reach ₦65.29 trillion.
