Equities market remains bullish, gains N1.446trn
Trading activities on the floor of Nigerian Exchange on Wednesday remained upbeat, gaining N1.446 trillion as investors continue to accumulate positions in fundamentally strong and high cap stocks.
Market capitalisation of listed equities appreciated by 1.50 per cent to N97.580 trillion from N96.134 trillion reported the previous day.
The market’s benchmark index, the NGX All-Share Index (ASI), surged by 2279.34 basis point for the first time to 153736.25 points from 151456.91 points traded the previous day, underscoring sustained investor confidence and the resilience of the equities market despite persistent macroeconomic headwinds.
The bullish performance reflects renewed investor appetite for equities driven by expectations of strong third-quarter earnings, improved dividend outlooks, and continued capital inflows from institutional and retail investors. Market participants have been taking advantage of the relative stability in the foreign exchange market and declining fixed-income yields to rebalance portfolios in favour of stocks with robust fundamentals and consistent profitability.
Market activity remained upbeat as total trading volume and value expanded significantly. Volume of shares traded rose by 37.562 million, representing 6.81 per cent as investors exchanged 589.486 million shares against 551.924 million units. Value of trades also rose by 16.91 per cent to N24.010 billion from N20.537 traded the previous day in 28485 deals.
The trading for the day was driven by gains recorded in shares of Dangote Cement, Nascon , SkyAVN and 29 others stocks.
The market breadth was positive with 32 advancers against 30 decliners, bringing year to date return to N49.37 per cent.
An analysis of the investment showed that Aso Savings led gainers table with 10 per cent to close at N0.55 per unit, SkyAVN followed with a gain of 9.99 per cent to close at N99.05 per unit, UPDC REIT added 8.16 per cent to close at N7.95 per share, Nascon added 6.80 per cent to close at N110.00 per unit, Dangote Cement gained 6.50 per cent to N639.00 per unit.
On the contrary, TIP recorded the highest loss, during the day, shedding 5.73 per cent to close at N13.00 per unit, Legend Internet trailed with a loss of 6.69 per cent to close at N5.80 per unit, Royal Express down by 4.76 per cent to close at N2.20 per unit, Champion Breweries fell by 4.49 per cent to close at N14.90 per unit, Mansard Insurance sheds 4.19 per cent to close at N16.00 per unit.
Transactions in the shares of Fidelity Bank led market activities with 94.744 million shares cost N1.876 billion, GTCO Plc followed with account of 79.451 million shares cost N7.394 billion, Access Holdings company traded 59.418 million shares valued at N1.470 billion, Zenith Bank traded 23.982 million shares cost N1.623 billion while Jaiz Bank exchanged 22.366 million shares cost N96.593 million.
