Investors’ Optimism Adds N36.67bn to Equities Market as ASI Rises by 0.07%

Samuel Mobolaji

The Nigerian stock market started the week on a positive note, with the NGX All-Share Index edging up by 0.07 per cent to close at 96,037.28 points.

The marginal gain was driven primarily by increased investor interest in key stocks, including BUAFOODS, which rose by 5.73 per cent, ZENITHBANK with a slight uptick of 0.13 per cent, and FBNH, which gained 0.98 per cent.

These gains outweighed the losses seen in TRANSPOWER, GTCO, and ACCESSCORP, which fell by 9.99 per cent, 0.22 per cent, and 4.76 per cent, respectively.

With this uptick, the year-to-date (YTD) return on the NGX All-Share Index improved to 28.44 per cent. Market capitalization also saw a boost, rising by N36.67 billion to close at N55.17 trillion.

However, despite the overall gain, market activity showed a decline in trade turnover compared to the previous session. The total value of transactions dropped by 15.73 per cent, with 390.51 million shares worth N3.88 billion changing hands in 9,242 deals. VERISTASKAP led the volume chart with 67.27 million shares traded, while ZENITHBANK dominated the value chart with transactions totaling N503.54 million.

Market breadth was positive, with a 1.44-to-1 ratio of advancing to declining stocks. ETERNA topped the gainers’ chart with a 10.00 per cent increase, leading a total of 25 gainers. On the other hand, TRANSPOWER led the laggards with a 9.99 per cent decline, heading a group of 17 stocks that ended the day in the red.

The slight gain in the NGX All-Share Index, driven by select high-performing stocks, demonstrates a cautiously optimistic investor sentiment in the Nigerian stock market, even as some sectors face challenges.