The Nigerian equities market kicked off the week on a bullish note, with a gain of N248 billion on investors’ positive sentiment.
The Nigerian Exchange Limited All Share Index (NGX ASI) gained by 387.87 basis points or 0.26 per cent to close at 147,427.95 basis points. Also, market capitalisation gained N248 billion to close at N93.970 trillion.
Market sentiment was bullish, as 41 advancing stocks outweighed 15 declining counters. Morison Industries recorded the highest price gain of 9.89 per cent to close at N3.89, per share. NPF Microfinance Bank followed with a gain of 9.85 per cent to close at N3.01, while Sovereign Trust Insurance increased by 9.31 per cent to close at N3.17, per share.
Caverton Offshore Support Group rose by 9.18 per cent to close at N5.35, while Chams Holding Company up by 7.84 per cent to close at N3.30, per share.
On the other hand, Daar Communications led the losers’ chart by 7.14 per cent to close at 91 kobo, per share. Livestock Feeds followed with a decline of 6.25 per cent to close at N6.00, while Nigerian Aviation Handling Company (NAHCO) declined by 6.10 per cent to close at N100.00, per share.
Union Dicon Salt depreciated by 4.76 per cent to close at N6.00, while Jaiz Bank declined by 3.43 per cent to close at N4.50, per share.
Also, the total volume traded rose by 52.34 per cent to 550.864 million units, valued at N13.856 billion, and exchanged in 30,090 deals. Transactions in the shares of FCMB Group topped the activity chart with 129.654 million shares valued at N1.433 billion. Japaul Gold & Venture followed with 63.740 million shares worth N139.079 million, while Zenith Bank traded 41.989 million shares valued at N2.710 billion.
Fidelity Bank traded 36.914 million shares valued at N700.712 million, while Access Holdings sold 28.580 million shares worth N611.139 million.
This week, Imperial Asset Managers Limited said, “we anticipate a continuation of cautious trading stance. Momentum is expected to accumulate in fundamentally strong and income stocks ahead full year 2025 earnings season, while interrupted volatility is expected to persist in sectors facing external pressures, such as Oil & Gas and Commodities.
“Meanwhile, penchant for risk-free assets, emerging geo-political and macroeconomic developments are likely to influence market direction in the short-to-near term.”