Equities Market Extends Upward Momentum as Investors Gain N152bn

The stock market commenced the week on a bullish note, extending the positive momentum from the previous week as investors recorded a N152 billion gain on Monday.

The rally was fueled by renewed interest in select mid- and small-cap stocks, reflecting continued investor confidence.

Specifically, the market capitalisation, which opened at N83.241 trillion, added 152 billion or 0.18 per cent to close at N83.393 trillion.

The uptrend was driven by increased investors interest in stocks like: Cutix, International Energy Insurance, TIP, Caverton Offshore Support Group and 37 other stocks.

The All-Share Index also gained 0.18 per cent or 241.11 points, to settle at 131,826.77 against 131,585.66 recorded on Friday.

Meanwhile, the market breadth closed negative with 41 losers and 31 gainers.

Meyer led the losers’ chart, dropping by 10 per cent, closing at N18.90 while Mc Nicholas fell by 9.95 per cent, finishing at N3.44 per share.

Thomas Wyatt Nigeria Plc lost by 9.84 per cent, ending the session at N3.39 and Deap Capital Management shed by 9.77 per cent, settling at N1.20 per share.

Also, Sovereign Trust Insurance declined by 9.63 per cent, closing at N1.22 per share.

On the advancers’ chart, Cutix soared by 10 per cent, settling at N4.07 while International Energy Insurance also rose by 10 per cent, finishing at N2.20 per share.

NCR Nigeria climbed by 10 per cent, ending the session at N7.26 and The Initiates Plc increased by 9.97 per cent, closing at N11.03 per share. Caverton Offshore Support Group gained by 9.75 per cent, finishing at N7.09 per share.

A total of 706.04 million shares worth N21.56 billion were exchanged across 30,750 transactions.

This is compared to 3.35 billion shares worth N62.39 billion that was traded across 28,593 transactions earlier on Friday.

Transactions in the shares of Access Corporation topped the activity chart with 61.73 million shares worth N1.64 billion.

Consolidated Hallmark Holdings followed with 43.98 million shares valued at N133.78 million while CHAMS sold 38.66 million shares worth N118.43 million.

United Bank for Africa traded 32.89 million shares valued at N1.50 billion and Zenith Bank transacted 24.60 million shares worth N1.73 billion.