Strengthening of Equities Market Continues As Investors Profit N1.82 Trillion
The regional equities market is currently undergoing a favorable trend as investors have accrued approximately N1.822 trillion from position-taking activities.
The All-Share Index (ASI) saw an increase of 3,330.21 points, indicating a 3.93 per cent gain, and closed at 87,971.10 points. Market capitalisation also experienced a rise of N1.822 trillion, reaching N48.139 trillion.
This positive upsurge can be attributed to the surge in the prices of large and medium capitalized stocks such as Dangote Cement, BUA Cement, Dangote Sugar Refinery, NASCON Allied Industries, and Julius Berger.
The measurement of market breadth signifies a positive market sentiment, with 77 stocks recording gains compared to 10 losers. Businesses such as Berger Paints, Dangote Sugar Refinery, Flour Mills of Nigeria, FTN Cocoa processors, Honeywell Flour Mills, Lafarge Africa, NASCON, Nigerian Breweries, Transnational Corporations (Transcorp), Universal Insurance, and Sterling Financial Holdings Company emerged as the highest price gainers, each experiencing a 10 per cent increase in share price.
Unity Bank, Wema Bank, and BUA Cement closely followed with a 9.96 per cent gain, while Jaiz Bank and Consolidated Hallmark Holdings advanced by 9.94 per cent each.
Conversely, Royal Exchange, Multiverse Mining & Exploration, Ellah Lakes, Oando, and UACN saw declines in their share prices.
The total volume of shares traded rose by 34.8 per cent to 1.09 billion units, valued at N16.05 billion, across 14,835 deals. Jaiz Bank, AIICO Insurance, FCMB Group, Sterling Financial Holdings Company, and Transcorp were the most actively traded stocks.
The robust performance of the equities market is a positive signal for investors and reflects the current bullish trend in the market. As investors continue to capitalize on favorable trading conditions, the market is expected to see sustained growth in the near future.
