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The Nigerian equity market started the week on a positive note, with a gain of N173 billion in market capitalisation as investors showed renewed interest in select large- and mid-cap stocks across key sectors. According to data from the Nigerian Exchange Limited, the All-Share Index appreciated by 284.25 points, or 0.25%, to close at 112,026.26, up from 111,742.01 posted on Friday.
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The market capitalisation rose from N70.43 trillion to N70.6 trillion. Despite the upturn in market indices, trading activity witnessed a decline, with a total of 517.95 million shares valued at N10.07 billion exchanged in 17,019 deals. This reflects a 73% drop in volume, an 84% drop in value, and a 9% decline in the number of deals compared to the previous trading session.
The market breadth closed negative, with 23 gainers and 36 losers out of the 127 equities traded during the session. Multiverse Mining and Exploration led the gainers’ chart with a 9.87% increase in its share price to close at N8.35 per share. Other notable gainers included Livestock Feeds, which gained 9.57% to settle at N10.30, and Lasaco Assurance, which rose by 8.11% to N2.80.
On the losers’ side, Legend Internet topped the chart with a 9.90% decline to close at N5.55 per share. Other notable losers included Secure Electronic Technology, which shed 9.84% to close at N0.55, and E-Tranzact International, which dipped by 9.56% to N6.15.
In terms of sectoral performance, the NGX Premium Index gained 0.88%, and the Insurance Index advanced by 0.85%. The Oil and Gas Index and the Industrial Index recorded marginal losses of 0.24% and 0.02%, respectively. The Pension Index rose by 0.2%, reflecting growing investor confidence in pension-backed assets. The year-to-date return of the ASI now stands at 8.84%, reflecting resilience in the face of recent market corrections
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Jonathan Nwokpor
