Nigerian stock market opens week on positive note as investors gain N288bn

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The Nigerian stock market began the week on a bullish note on Monday, with investors recording a gain of N288 billion despite a negative market breadth.

Market capitalisation rose by N288 billion, or 0.18 per cent, to close at N158.614 trillion, up from N158.326 trillion at the opening of trading.

Similarly, the All-Share Index, ASI advanced by 446.85 points, representing a 0.18 per cent increase, to close at 245,283.68 from 244,836.83 recorded in the previous trading session.

The market’s performance further boosted the Year-to-Date, YTD return to 57.91 per cent.

However, market breadth remained negative, with 39 stocks declining against 25 gainers at the close of trading.

Among the top gainers, Eterna Plc and Caverton Offshore Support Group appreciated by 10 per cent each to close at N36.30 and N5.50 per share, respectively.

Omatek Ventures gained 9.88 per cent to settle at N1.78, while AVA Capital rose by 9.70 per cent to N9.05. Vitafoam Nigeria also advanced by 7.90 per cent, closing at N194.00 per share.

On the losers’ chart, Ecobank Transnational Incorporated, ETI led with a 9.95 per cent decline to close at N80.10 per share.

Cadbury Nigeria fell by 9.92 per cent to N58.10, while Thomas Wyatt Nigeria dropped 9.82 per cent to N3.95 per share.

Also, WAPIC Insurance shed 9.80 per cent to close at N2.30, while Critical Minerals Financing Corp declined by 9.79 per cent to settle at N3.50 per share.

Trading activity weakened during the session as investors traded 923.01 million shares valued at N37.85 billion in 72,544 deals, representing a 2.12 per cent decline in trading volume compared to the previous session.

Access Holdings Plc emerged as the most traded stock by volume with 166.64 million shares, accounting for 18.05 per cent of the total volume exchanged, while Aradel Holdings topped the value chart with transactions worth N4.59 billion, representing 12.12 per cent of the day’s total traded value.

Nigerian stock market opens week on positive note as investors gain N288bn