Stock Market Posts Modest Gains as Equities Investors Reap N65bn

Samuel Mobolaji

The Nigerian equities market on Tuesday saw a slight yet significant recovery as the All-Share Index (ASI) rose by 12 basis points, closing at 95,895.92 points. This gain, though modest, translated into a tangible increase in market capitalization, adding N65.05 billion and pushing the total to N54.45 trillion.

The year-to-date (YTD) return now stands at an impressive 28.25 per cent, reflecting sustained investor confidence despite recent market volatility.

Key performers driving yesterday’s positive outcome included Oando Plc, which surged by 9.90 per cent, Stanbic IBTC Holdings with a 6.74 per cent gain, and SEPLAT Petroleum Development Company, up by 1.28 per cent.

These gains were strong enough to outweigh losses from significant stocks such as Transcorp Hotels (-3.97 per cent), First Bank of Nigeria Holdings (-0.72 per cent), and United Bank for Africa (-1.32 per cent).

The trading session also recorded an uptick in the value of transactions, which rose by 0.50 per cent from the previous session, with N7.69 billion worth of shares exchanged.

However, the volume of shares traded decreased to 1.01 billion from the previous session’s 3.55 billion, indicating a more selective buying pattern among investors. JAIZBANK was a standout, leading both the volume and value charts with 651.29 million units traded, valued at N1.50 billion.

Despite the overall gains, market breadth remained slightly negative, with more stocks declining than advancing at a ratio of 0.86-to-1. THOMAS WYATT Nigeria Plc topped the laggards’ list with a 9.71 per cent drop, while Learn Africa Plc led the gainers, rising by 9.94 per cent.

For investors, today’s market performance delivered a positive return, reinforcing the importance of strategic stock selection in navigating market fluctuations.

The N65 billion gain in market capitalization underscores the potential for continued profitability in the Nigerian equities market, provided investors remain vigilant in identifying value opportunities amidst the prevailing market conditions.