Nigerian stock market analysis: Modest increase of 0.07 on Monday
At the beginning of the week, the Nigerian stock market experienced a modest increase of 0.07%, concluding at 96,037.28 points. The positive movement in the market was primarily fueled by investor interest in BUAFOODS (+5.73%), ZENITHBANK (+0.13%), and FBNH (+0.98%), which outweighed the declines observed in TRANSPOWER (-9.99%), GTCO (-0.22%), and ACCESSCORP (-4.76%). As a result, the year-to-date (YTD) return improved to 28.44%, and the market capitalization rose by ₦36.67 billion, reaching ₦55.17 trillion.
A further Nigerian stock market analysis of the market activities for the day indicated a decrease in trade turnover compared to the previous session, with transaction values falling by 15.73%. A total of 390.51 million shares, valued at ₦3.88 billion, were traded across 9,242 transactions. VERISTASKAP (+9.52%) led in volume with 67.27 million shares exchanged, while ZENITHBANK (+0.13%) topped the value chart with transactions amounting to ₦503.54 million.
The market breadth concluded positively, with a ratio of 1.44-to-1, indicating that advancing stocks outnumbered those that declined. ETERNA (+10.00%) emerged as the leader among twenty-five (25) gainers, while TRANSPOWER (-9.99%) was at the bottom of the list, leading seventeen (17) decliners.
