Market extends cautious gains as investors earn N19.84bn

The Nigerian equities market sustained a cautious advance at the midweek session as renewed buying interest in select large- and mid-cap stocks lifted the benchmark index marginally.

The NGX All-Share Index (ASI) rose by 0.02 per cent to close at 147,742.22 basis points, maintaining year-to-date returns at 43.54 per cent.

Similarly, market capitalisation appreciated by ₦19.84 billion to close at ₦93.78 trillion, reflecting sustained investor optimism in market fundamentals despite a slowdown in activity.

Market sentiment remained positive, as 33 gainers outpaced 27 decliners. On the performance board, Royal Exchange gained 7.4 per cent, International Energy Insurance rose by 6.1 per cent, while SFS Real Estate Investment Trust, Julius Berger, and Omatek Computer also led the gainers’ chart. Conversely, Tripple G shed 9.9 per cent, Industrial Medical Gases dipped by 9.9 per cent, while UAC Nigeria, Ellah Lakes, and Japaul Gold topped the losers’ list.

Across sectors, performance was broadly mixed. The Consumer Goods, Industrial Goods, and Oil & Gas indices each advanced by 0.1 per cent, buoyed by gains in Transnational Corporation, which rose by 4.2 per cent, and Stanbic IBTC Holdings, which appreciated by 1.6 per cent.

Conversely, the Banking and Insurance indices declined by 0.2 per cent and 0.1 per cent respectively, following mild profit-taking in tier-one lenders and insurers. The Commodities index closed flat.

Trading activity weakened across all indicators, as the total volume traded fell by 21.41 per cent to 389.11 million units, valued at ₦12.48 billion, exchanged in 23,017 deals — representing a 10.25 per cent decline in the number of transactions.

Fidelity Bank emerged as the most traded stock by volume with 46.87 million shares, while Zenith Bank led by value at ₦1.42 billion.

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