The Nigerian Stock Exchange sustained its bullish trend with a N15bn gain at the close of the first weekday of trading, as equities recorded positive growth.
The All-Share Index rose by 0.03 per cent, adding 24.99 points to close at 97,747.27. The market capitalisation rose by 0.03 per cent to close at N59.23tn.
An aggregate of 413,350,004 units of shares was traded in 9,004 deals valued at N5.34bn. The market volume rose by 40 per cent. Although, turnover saw a 21 per cent decline, and the number of deals increased by 7 per cent.
The market breadth closed positive as 29 equities gained while 21 equities declined in share prices. John Holt led the pack of top gainers, with its share price rising by 9.97 per cent to close at N8.49. Beta Glass Company followed with a 9.92 per cent increase, along with Eunisell Interlinked and Lafarge Wapco, which saw gains of 9.92 per cent and 9.52 per cent, respectively.
On the losing side, MeCure Industries posted the biggest decline, with its share price dropping by 9.65 per cent to N11.70. Other notable losers included The Initiates (-9.09 per cent), Thomas Wyatt Nigeria (-8.85 per cent), and University Press (-7.83 per cent).
In terms of volume, Japaul Gold and Ventures recorded the highest trading volume, with 179 million shares exchanged. This was followed by Consolidated Hallmark Holdings (36.8 million), Access Holdings (31.7 million), and United Bank for Africa (17.3 million).
Other key indices showed positive growth, with the Industrial Index rising by 0.66 per cent, the Insurance Index increasing by 0.42 per cent, and the Premium Index climbing 0.19 per cent. However, the Oil & Gas Index declined slightly by 0.08 per cent, although it has surged 132.2 per cent year-to-date.
The PUNCH reports that the Nigerian Exchange turned bullish in the past week for investors who gained about N295bn at the close of trading on the back of positive sentiments even as trading activities weakened.
This gain comes after two consecutive weeks of losses, bringing the year-to-date performance of the All-Share Index to +30.69 per cent. Market watchers said the positive performance was driven by sector rotation and portfolio rebalancing activities. The All-Share Index rebounded from the loss of the previous week to rise by 0.50 per cent to close at 97,722.28 points. Similarly, the market capitalisation increased by 0.50 per cent to settle at N59.22tn.
