With a 0.25% increase in the benchmark index during the first trading session, the Nigerian stock market got off to a good start this year.
In particular, from the previous closing of ₦62,763 trillion, the market capitalization increased by ₦155 billion, or 0.25%, to settle at ₦62,918 trillion.
Additionally, the All Share Index gained 253.74 basis points, or 0.25%, from 102,926.40 basis points to 103,180.14 basis points.
As a result, the All-Share Index rose 0.3% to 103,180.14 points, and the return for the year was +0.3%.
Analysis of today’s market activity revealed that trade turnover was lower than it was during the previous session, with transactions’ values falling by 85.95%. In contrast, the overall volume of trade rose by 89.6%.
In 11,752 transactions, 829.75 million units of shares worth ₦5.67 billion were traded. With 290.99 million units exchanged, ROYAL EXCHANGE PLC topped the volume chart, and ACCESS HOLDINGS PLC topped the value chart with transactions totaling ₦430.78 million.
With 58 rising issues outnumbering the 8 declining ones, market sentiment was bullish as indicated by market breadth.
Leading the gainers’ table, CORNERSTONE INSURANCE PLC increased from ₦3.60k per share to close at ₦3.96k per share, a gain of 0.36k or 10.00%. CUTIX PLC followed, increasing by ₦0.23k or 10.00%, from ₦2.30k per share to ₦2.53k per share. Additionally, INTERNATIONAL ENERGY INSURANCE PLC had a 0.17k or 10.00% increase in share price, from ₦1.70k to ₦1.87k.
Conversely, ELLAH LAKES PLC. lost -₦0.15k, or -4.75%, from ₦3.16k per share to close at ₦3.01k per share. Next is NASCON ALLIED INDUSTRIES PLC, which lost ₦-1.35k, or -4.31%, from ₦31.35k to ₦30.00 per share. Additionally, CWG PLC lost -0.25k, or -3.25%, as its share price dropped from ₦7.70k to ₦7.45k.
Sector-wise, the Industrial Goods and Oil and Gas indices closed flat, but the Insurance (+9.5%), Banking (+0.3%), and Consumer Goods (+0.2%) indices reported advances.