By Seun Ibiyemi
The Nigerian stock market opened the week on a positive note, with investors gaining N443 billion amid renewed buying interest in key equities.
Market capitalisation rose from N131.165 trillion to N131.608 trillion, representing an increase of 0.34 per cent, while the NGX All-Share Index advanced by 688.43 points to close at 204,458.86.
The rally was driven by strong demand for stocks such as NGX Group, Trans-Nationwide Express Plc, McNichols Plc, VFD Group Plc and Chams Holding Company Plc, among others.
The positive sentiment lifted the market’s year-to-date return to 31.39 per cent, with market breadth closing positive at 32 gainers against 24 losers.
On the gainers’ chart, NGX Group led with a 10 per cent increase to close at N153.45, followed by Trans-Nationwide Express which rose by 9.81 per cent to N4.14.
McNichols gained 9.74 per cent to settle at N7.10 per share, while VFD Group advanced by 9.71 per cent to N11.30. Chams also appreciated by 8.96 per cent to close at N3.65 per share.
Conversely, Berger Paints Nigeria Plc topped the losers’ chart, shedding 9.95 per cent to close at N68.35.
Academy Press Plc declined by 9.71 per cent to N7.90, while Caverton Offshore Support Group Plc dropped by 5.98 per cent to N5.50 per share.
Also, Honeywell Flour Mills Plc fell by 4.92 per cent to N20.30, while Chemical and Allied Products Plc dipped by 3.81 per cent to N96 per share.
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Trading activity, however, declined, with total volume dropping by 14.33 per cent to 470.01 million shares valued at N32.45 billion across 60,793 deals.
Access Corporation Plc led the volume chart with 54.91 million shares traded, accounting for 11.68 per cent of total volume, while Aradel Holdings Plc topped the value chart with transactions worth N7.05 billion.
Analysts say the sustained buying interest reflects improved investor confidence and could support further market gains in the near term
