Nigerian stock market gains 0.47% on Tuesday
- The bullish momentum on the Nigerian stock market extended into today’s session, as the NGX All-Share Index (ASI) advanced by +0.47% to close at 132,451.73 points. In tandem, market capitalization gained +0.47%, settling at N83.79trn. Consequently, the year-to-date (YTD) return on the ASI advanced to 28.69% from 28.08% recorded in the previous session. This reflects persistent interest in resilient large-cap stocks ahead of H1 earnings.
- Positive sentiment was largely driven by persistent demand in the industrial goods segment, with notable gains in BUACEMENT (+4.01%), and WAPCO (+8.62%). These gains were supported with buying interest in select bellwether names including UBA (+1.85%), NESTLE (+1.93%) and ACCESSCORP (+3.77%), which collectively offset mild profit taking in tier one banking stocks such as GTCO (-0.74%), ZENITHBANK (-0.35%), and FIRSTHOLDCO (-4.19%).
- Market activity remained broadly positive, as total trading volume rose by +9.29%, while value of transaction increased by 24.24% relative to the previous session. ACCESSCORP (+3.77%) dominated the volume chart with 102.88mn units while WAPCO (+8.62%) led the value chart, with N3.87bn worth of trades.
- Market breadth closed positive 1.06:1, indicating a marginally higher number of gainers relative to losers. DANGSUGAR (+10.0%) led the thirty-six (36) gainers, while ELLAHLAKES (-10.0%) topped the thirty-four (34) laggards.
NASD Summary
- The NASD Securities Index (NSI) gained +0.74% to close at 3,531.6 points, while market capitalisation expanded by similar margin of +0.74%, settling at N2.07trn.
- Trading activity notably strengthened, with volume surging by +149.01% to 1.00mn units, while transaction value rose by +130.92% to N334.44mn. However, the total number of trades further declined by -48.72% to 22, suggesting few trades drove the market sentiment.
