By Seun Ibiyemi
The Nigerian equities market closed on a positive note, with key indicators posting marginal gains amid renewed buying interest in select stocks.
Market capitalisation increased by ₦88 billion, or 0.06 per cent, to ₦140.523 trillion from ₦140.435 trillion recorded in the previous session. Similarly, the All-Share Index (ASI) rose by 135.97 points, or 0.06 per cent, to close at 218,249.81, compared to 218,113.84.
The uptick was largely driven by demand for stocks including National Salt Company, Union Dicon Salt, Lafarge Africa Plc, Trans-Nationwide Express Plc, and UAC of Nigeria Plc.
As a result, the market’s Year-to-Date (YTD) return improved to 40.25 per cent.
Despite the gains, market breadth remained negative, with 44 decliners against 25 gainers, indicating mixed investor sentiment.
On the losers’ chart, Legend Internet Plc led with a 9.92 per cent drop to close at ₦5.63. Abbey Mortgage Bank Plc declined by 9.59 per cent to ₦6.60, while Stanbic IBTC Holdings Plc fell by 8.96 per cent to ₦154.50.
Access Holdings Plc shed 8.83 per cent to close at ₦29.95, while Veritas Kapital Assurance Plc dropped by 7.50 per cent to ₦1.85 per share.
Conversely, National Salt Company topped the gainers’ chart with a 10 per cent rise to ₦171.60. Union Dicon Salt gained 9.92 per cent to ₦19.95, while Lafarge Africa Plc advanced by 9.64 per cent to close at ₦273.
Trans-Nationwide Express Plc rose by 8.27 per cent to ₦7.20, and UAC of Nigeria Plc appreciated by 7.84 per cent to ₦110 per share.
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Market activity, however, declined at the close of trading, with total volume dropping by 14.38 per cent to 842.48 million shares valued at ₦44.86 billion, exchanged in 61,617 deals.
Access Holdings Plc recorded the highest volume, with 110.81 million shares, accounting for 13.15 per cent of total turnover.
Meanwhile, MTN Nigeria Communications Plc led the value chart with transactions worth ₦6.55 billion, representing 14.60 per cent of the total value traded.
