Nigerian Stock Market Commences Week with N3.45 Billion Gain
The Nigerian Exchange Limited (NGX) opened the trading week on a positive note, recording a marginal gain for investors as market activity reflected balanced sentiment across various sectors.
Market Performance Overview
The trading session concluded with the All-Share Index edging up slightly to 165,517.56 points from the previous session's 165,512.18 points, representing a modest increase of 0.003%. Market capitalization also experienced growth, rising by N3.45 billion to close at N105.96 trillion.
Market sentiment remained relatively flat throughout the day, with an equal number of gainers and decliners at 35 each, indicating a balanced trading environment. Trading activity showed some contraction, with total volume declining by 17.77% to 601.65 million shares exchanged across 58,429 deals, valued at N17.30 billion.
Top Performing Stocks
The market witnessed notable movements among individual stocks, with several companies posting significant gains:
- Nigeria Police Microfinance Bank Plc led the gainers' table with a 10.00% increase, rising from N5.10 to N5.61 per share, adding 51 kobo to its value.
- Morison Industries Plc followed closely with a 9.97% gain, advancing from N7.52 to N8.27 per share, representing an increase of 75 kobo.
- Union Homes Real Estate Investment Trust appreciated by 9.95%, climbing from N71.35 to N78.45 per unit, gaining N7.10.
- Deap Capital Management and Trust Plc increased by 9.94%, rising from N7.14 to N7.85 per share, adding 71 kobo.
- Zichees International Limited rounded out the top five gainers with a 9.92% increase, moving from N2.62 to N2.88 per share, gaining 26 kobo.
Stocks Facing Declines
Several companies experienced downward pressure during the trading session:
- May & Baker Nigeria Plc topped the decliners' list with a 10.00% drop, falling from N43.50 to N39.15 per share, losing N4.35.
- Neimeth International Pharmaceuticals Plc declined by 9.81%, decreasing from N13.25 to N11.95 per share, shedding N1.30.
- ABC Transport Plc lost 9.33%, sliding from N5.68 to N5.15 per share, representing a decrease of 53 kobo.
- Computer Warehouse Group Plc fell by 9.05%, dropping from N24.30 to N22.10 per share, losing N2.20.
- Sovereign Trust Insurance Plc shed 8.97%, down from N3.79 to N3.45 per share, decreasing by 34 kobo.
Most Actively Traded Stocks
Trading volume leaders for the session included:
- Chams Plc recorded 41.6 million shares valued at N210.1 million.
- Access Holdings Plc traded 34.4 million shares worth N768.6 million.
- Guaranty Trust Holding Company Plc exchanged 31.6 million shares valued at N3.11 billion.
- Zenith Bank Plc posted 26.0 million shares worth N1.84 billion.
- Guinea Insurance Plc recorded 25.0 million shares valued at N33.2 million.
The market's performance reflects renewed investor interest in specific sectors, particularly real estate, aviation, and select financial stocks, contributing to the overall positive sentiment despite the balanced nature of the trading session.
