Nigeria’s stock market started the week on a mixed note, as the All-Share Index (ASI) dropped slightly by 0.04% to 105,891.33 points. Despite this small decline, the total market capitalization increased by 0.73% to N66.07 trillion, adding N477 billion in gains. The boost was largely driven by Zenith Bank’s decision to list an additional 9.67 billion shares.
Stock Market Performance Breakdown
The Nigerian Exchange (NGX) All-Share Index fell by 41.70 points, but market capitalization increased because of the new shares listed by Zenith Bank.
- Trading Activity: Market activity was mixed, with the total number of shares traded rising by 19.69%, but the total value of transactions dropping by 22.11%.
- Most Active Stocks by Volume: The most traded stock was NSLTECH, which accounted for 14.84% of all shares traded on Monday. Other highly traded stocks included Fidelity Bank (FIDELITYBK), Access Corporation (ACCESSCORP), UPDC, and AIICO.
- Top Gainers: Stocks like Beta Glass, Stanbic IBTC, and Smurfit gained 10% each, leading the list of gainers. Other stocks with notable gains included Honeywell Flour (+9.98%), Eterna Oil (+9.96%), and Lasaco Assurance (+9.86%).
- Top Losers: The worst-performing stock was International Energy Insurance (INTENEGINS), which lost 10% of its value. Other losers included RT Briscoe (-9.63%) and Julius Berger (-8.44%).
Sectoral Performance
The Nigerian stock market had mixed performances across different sectors:
- Insurance sector: +1.98%
- Consumer goods sector: +0.10%
- Oil & Gas sector: +0.09%
- Industrial sector: +0.08%
- Banking sector: -1.02%
The banking sector declined due to profit-taking by investors in major banking stocks. Despite this, the overall market breadth was positive, with 43 stocks gaining while 25 declined.
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