Reported by Tahir Ishaq Shehu
The Nigerian stock market began the week on a strong footing, with the All-Share Index (ASI) gaining 539.95 points to close at 126,689.54, reflecting a 0.43% increase. This upward momentum pushed the total market capitalization beyond the ₦80 trillion mark for the first time in recent trading sessions, closing at ₦80.14 trillion.
Despite a slight dip in trading volume from 1.39 billion to 1.29 billion shares market activity remained robust, with investors executing 39,431 deals.
Top Performers: SEPLAT, ACCESSCORP, UBA Among Leaders
SEPLAT Energy Plc emerged as the day’s most valuable equity by turnover, recording transactions worth ₦5.3 billion. The energy giant’s strong performance highlighted renewed investor interest in the oil and gas sector.
On the volume chart, Access Holdings Plc (ACCESSCORP) led with a commanding 138 million shares traded, followed by Japaul Gold (93.4 million), AIICO Insurance (93.35 million), United Bank for Africa (UBA) (68.7 million), and Jaiz Bank (59.6 million).
In terms of transaction value, the top five were:
- SEPLAT – ₦5.3 billion
- ACCESSCORP – ₦3.5 billion
- Zenith Bank – ₦3.1 billion
- UBA – ₦3.05 billion
- GTCO – ₦1.9 billion
Winners and Losers: NSE Technology Stocks Shine
Among the top gainers were:
NSLTECH (+10.00% to ₦1.10)
ABBEY Mortgage Bank (+9.99% to ₦7.60)
INFINITY Trust Mortgage Bank (+9.92%)
CORNERSTONE Insurance (+9.74%)
CWG Plc (+9.68%)
However, some equities recorded significant losses, including:
Tantalizers Plc (–10.00%)
Cutix Plc (–10.00%)
RT Briscoe (–10.00%)
Caverton Offshore (–10.00%)
Neimeth Pharmaceuticals (–9.80%)
Sector Highlights: Banks and Cement Giants in Focus
The performance of key banking stocks was mixed:
UBA led gains among tier-1 banks, rising 5.63%
Zenith Bank climbed 2.58%
FirstBank Holdings added 0.51%
ACCESSCORP edged up 0.40%
GTCO, however, dipped slightly by 0.27%
In the industrial goods space, BUA Cement gained 5.32%, while Dangote Cement advanced 1.18%. Conversely, International Breweries declined 9.09%, with Fidelity Bank slipping 0.94%.
Market Outlook: Bullish Sentiment Persists
Analysts suggest the market’s steady climb and the breach of the ₦80 trillion threshold reflect strong investor confidence and a bullish near-term outlook. However, with the ASI firmly above the 126,000 level, some caution is advised should sentiment shift toward concerns of overvaluation.
As the week progresses, market watchers will be keeping a close eye on macroeconomic signals, policy updates, and corporate earnings reports that could influence trading dynamics.
