Equities Investors Gain N6.2bn as NGX ASI Inches up by 1bp

At the close of yesterday’s trading session, the Nigerian equities market closed on a positive note as the NGX All-Share Index edged up by a modest 1 basis point (bp), while investors’ wealth appreciated by N6.19 billion.

Specifically, the market benchmark index closed the day at 99,396.23 points, while the market capitalization grew by N6.19 billion, closing at N56.23 trillion.

This slight gain was driven by significant interest in SEPLAT, which surged by 10.00 per cent, and sustained interest in Tier-1 banking stocks, with GTCO up by 1.25 per cent and FBNH rising by 2.90 per cent.

These gains offset the losses seen in MTNN (-6.89 per cent), ZENITHBANK (-0.56 per cent), and PRESCO (-1.34 per cent).

As a result, the year-to-date (YTD) return increased marginally to 32.93 per cent. Despite the fourth trading day’s positive performance, the benchmark index is still on track to close the week in negative territory.

Analyzing yesterday’s market activities, the trade turnover showed a significant improvement compared to the previous session, with the value of transactions increasing by 154.67 per cent.

A total of 529.37 million shares valued at N10.49 billion were exchanged across 7,616 deals. GTCO led both the volume and value charts, with 66.05 million units traded in deals worth N2.93 billion.

The market breadth closed positive at a 2.20-to-1 ratio, with advancing issues outnumbering declining ones. SEPLAT (10.00 per cent) topped the leader’s table alongside thirty-two other gainers, while DAARCOMM (-8.93 per cent) led fourteen other laggards.

Overall, yesterday’s performance indicates a resilient market, buoyed by strong performances in key sectors despite the headwinds faced by other major stocks.