Stock market gains N20bn as investor interest lifts key equities

The Nigerian stock market sustained its positive momentum on Thursday, recording a marginal gain of N20 billion amid continued investor interest in select equities.

Market capitalisation rose from N128.977 trillion to N128.997 trillion, representing a 0.02 per cent increase, while the All-Share Index advanced by 32.14 points to close at 200,957.89.

The uptrend was driven by buying interest in stocks such as Premier Paints Plc, Zichis Agro Allied Industries Ltd, Legend Internet Plc, John Holt Plc, and McNichols Plc, alongside 25 other gainers.

The Year-to-Date (YTD) return also improved to 29.14 per cent, reflecting sustained bullish sentiment in the market.

Despite the overall gain, market breadth closed negative, with 36 losers compared to 30 gainers.

On the losers’ chart, University Press Plc led with a 9.17 per cent decline to close at N5.45 per share. Sunu Assurances Nigeria Plc followed with an 8.88 per cent drop to N4.31, while Veritas Kapital Assurance Plc fell by 6.98 per cent to N2 per share.

Other decliners included FTN Cocoa Processors Plc, which dipped by 6.67 per cent to N5.60, and Nigerian Exchange Group Plc, which shed 6.46 per cent to close at N168.75 per share.

Conversely, Premier Paints and Zichis Agro Allied Industries topped the gainers’ chart with a 10 per cent increase each, closing at N34.10 and N12.54 respectively.

Legend Internet rose by 9.92 per cent to N7.98, while John Holt gained 9.87 per cent to close at N17.25. McNichols also appreciated by 9.76 per cent to settle at N6.75 per share.

Read also:Power reforms attract $2bn investment, cut liabilities by N700bn – Adelabu

Trading activity improved significantly, with total volume rising by 26.05 per cent to 678.13 million shares valued at N33.14 billion, exchanged in 42,222 deals.

Access Holdings Plc recorded the highest trading volume with 134.59 million shares, accounting for 19.85 per cent of total volume traded.

Meanwhile, MTN Nigeria Communications Plc posted the highest trade value at N11.06 billion, representing 33.38 per cent of the day’s total market value.Tagged: NGX