Equities investors earn N343bn as ASI adds 0.6%

Bullish sentiments resurfaced in the domestic bourse as gains in MTN Nigeria and Oando drove the overall appreciation, having appreciated in share value by 7.5 per cent and 6.7 per cent.

On Tuesday, the Nigerian equities market reversed the previous session’s losses, with the All-Share Index rising by 0.62 per cent to close at 96,802.80 basis points, resulting in a N343 billion gain for equity investors.
In line with this, the market capitalisation of listed equities also increased by 0.62 per cent, reaching N55.63 trillion.

Thus, the month-to-date and year-to-date returns settled higher at +0.2 per cent and +29.5 per cent, respectively.

Market sentiment was positive, with 31 gainers outpacing just 19 decliners.

On the individual stock front, the top performers were SFSREIT, RT Briscoe, Caverton, McNicholas, and Custodian Insurance, having appreciated in share value by 9.98 per cent, 9.93 per cent, 9.77 per cent, 8.89 per cent, and 8.87 per cent, respectively.

In contrast, the leading laggards were Learn Africa, The Initiates, Japaul Gold & Venture, AIICO Insurance, and Neimeth Pharmaceuticals, having dipped in share value by 9.69 per cent, 6.77 per cent, 6.67 per cent, 4.39 per cent, and 4.29 per cent, respectively.

Sectoral performance was mostly subdued. The Banking, Insurance, and Consumer Goods sectors experienced declines of 0.51 per cent, 0.42 per cent, and 0.18 per cent, respectively, reflecting negative investor sentiment.

However, the Oil & Gas and Industrial Goods sectors posted slight gains of 0.01 per cent each.

Trading activity was mixed; while the total number of deals increased by 17.57 per cent to 12,241 deals, overall trading volumes and values did not match the market’s optimism, as the total volume and value of trades fell by 47.55 per cent and 9.11 per cent to 406.19 million units and N13.31 billion, respectively.

Oando emerged as the most actively traded stock by both volume and value, with 58.49 million units worth N5.52 billion.

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