Nigerian Stocks Gain N1.45 Trillion as Investor Confidence Strengthens

The Nigerian stock market maintained its positive momentum on Wednesday, with investors driving a significant N1.45 trillion increase in market capitalisation, bringing the total value to N97.58 trillion.

This represents a 0.50 per cent rise, fueled by renewed interest in blue-chip stocks such as Aso Savings, Skyway Aviation Handling, UPDC Real Estate Investment Trust, Nascon, and Dangote Cement.

Similarly, the All-Share Index (ASI) appreciated by 2,279.34 points or 0.50 per cent, closing at 153,736.25 points, up from 151,456.91 recorded on Tuesday.

The year-to-date (YTD) return further improved to 49.37 per cent, reflecting sustained investor optimism in the equities market.

Market sentiment remained positive with 32 gainers and 31 losers at the close of trading.

Aso Savings topped the gainers’ chart with a 10 per cent increase to 55k, followed by Skyway Aviation Handling, which appreciated 9.99 per cent to N99.05.
UPDC Real Estate Investment Trust gained 8.16 per cent to N7.95, Nascon advanced 6.80 per cent to N110.00, while Dangote Cement rose 6.50 per cent to N639.00.

On the flip side, The Initiates Plc led the decliners, dropping 5.73 per cent to N13.00, followed by Legend Internet, which slipped 5.69 per cent to N5.80.
Royal Exchange lost 4.76 per cent to N2.20, Champion Breweries fell 4.49 per cent to N14.90, and AXA Mansard shed 4.19 per cent to N16.00.

Overall, market activity showed improvement, with volume traded up by 7 per cent, turnover rising 17 per cent, and total deals increasing by 4 per cent.

Investors exchanged 589.5 million shares worth N24.01 billion in 28,485 deals, compared to 551.92 million shares valued at N20.54 billion traded in 27,518 deals on Tuesday.

Fidelity Bank led the activity chart, trading 94.74 million shares worth N1.87 billion, followed by GTCO with 79.5 million shares valued at N7.4 billion.
Access Corporation traded 59.4 million shares worth N1.5 billion, Zenith Bank exchanged 23.98 million shares valued at N1.62 billion, while Jaiz Bank recorded 22.37 million shares worth N96.6 million.

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