Nigerian Stock Market Closes Mixed with Bullish Tilt as Capitalisation Rises by N1 Billion

The Nigerian stock market concluded yesterday’s session on a mixed note, but with a bullish tilt, as the overall market capitalisation increased by N1 billion.

The All Share Index (ASI) inched up by 2.00 points, marking a slight gain of 0.002 per cent to settle at 99,842.95 points. Consequently, the market capitalisation appreciated by N1 billion, closing at N56.480 trillion.

This modest upturn was driven by gains in medium and large capitalised stocks, including notable companies such as Guinness Nigeria, Julius Berger, Guaranty Trust Holding Company (GTCO), Unilever Nigeria, and Cadbury Nigeria.

Reflecting the market’s positive sentiment, 35 stocks recorded gains compared to 17 decliners. Champion Breweries and Veritas Kapital Assurance led the pack with a 10 per cent increase each, closing at N3.56 and 89 kobo per share, respectively. Following closely, R.T. Briscoe Nigeria and Royal Exchange each gained 9.88 per cent to end at 89 kobo and 64 kobo per share. Additionally, Chams Holding Company saw a rise of 9.79 per cent, closing at N2.13 per share.

On the downside, Transcorp Hotels led the losers’ chart with a 10 per cent decline, ending at N90.00 per share. Regency Alliance Insurance followed, dropping by 8.51 per cent to close at 43 kobo, while LASACO Assurance fell by 6.05 per cent to N2.02 per share. NEM Insurance and Fidelity Bank also experienced declines, with NEM Insurance down by 5.76 per cent to N9.00, and Fidelity Bank decreasing by 4.15 per cent to N10.40 per share.

Trading activity saw a 6.04 per cent decline in total volume, with 1.30 billion units traded, valued at N25.326 billion, across 8,364 deals. FBN Holdings (FBNH) dominated the activity chart, with 871.084 million shares traded at a value of N19.119 billion. Fidelity Bank followed, with 162.080 million shares worth N1.732 billion, and Transnational Corporation (Transcorp) exchanged 33.698 million shares valued at N399.732 million.

Other notable trades included Access Holdings, with 23.362 million shares valued at N442.181 million, and AIICO Insurance, which sold 22.640 million shares worth N21.793 million.

In summary, while the Nigerian stock market displayed mixed results, the bullish tilt and overall gain in capitalisation underscore investor confidence and the potential for continued market strength.

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