Ahead of Christmas, Stock Market Investors’ Wealth Increases by N256bn in One Day
- The Nigerian Exchange closed higher on Monday as sustained buying interest lifted the All-Share Index by 0.26%
- NASCON Allied Industries Plc, BUA Cement Plc, First HoldCo Plc, Dangote Sugar Refinery Plc, Presco Plc, and MeCure Industries Plc led the gainers’ chart
- ABC Transport Plc, Custodian Investment Plc, Prestige Assurance Plc, and Guinea Insurance Plc were among the top decliners
Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
The Nigerian equities market closed bullish on Monday, extending gains from the previous session as investors’ wealth increased by N256 billion.
The rally was driven by sustained buying interest in stocks such as NASCON Allied Industries Plc, BUA Cement Plc, First HoldCo Plc.
Source: Getty Images
The equities market sustained its positive momentum on Monday as the benchmark index advanced, reflecting broad-based gains across key sectors.
Data from the Nigerian Exchange Limited showed that the All-Share Index (ASI) rose by 401.69 points, or 0.26%, to close at 152,459.07 points, compared with 152,057.38 points recorded in the previous trading session.
Market sentiment remained broadly positive, with 34 stocks recording gains against 19 decliners. The gainers’ chart was led by ALEX Industries Plc, while ABC Transport Plc topped the losers’ list.
As a result, investors’ wealth increased by N256.08 billion, pushing total market capitalisation to N97.19 trillion. The market’s year-to-date (YTD) return also improved to 48.12%.
Meanwhile, ALEX Industries Plc, MeCure Industries Plc, and Berger Paints Nigeria Plc traded above their respective 52-week highs at N13.55, N60.30, and N43.95, reflecting strong investor demand.
Top gainers
On the gainers’ chart
- ALEX Industries Plc rose by 9.72% to close at N13.55.
- International Energy Insurance Plc gained 9.69% to N2.49
- MeCure Industries Plc advanced by 9.64% to N60.30.
- Royal Exchange Plc climbed by 9.60% to N1.94
- Austin Laz & Company Plc appreciated by 9.50% to close at N2.65.
Top losers
- FGN Savings Bond 2031 Series IV declined by 11.10% to N80.00.
- Custodian Investment Plc fell by 10% to N35.10
- ABC Transport Plc also shed 10% to close at N3.15.
- Prestige Assurance Plc declined by 7.41% to N1.50
- Guinea Insurance Plc dropped by 7.38% to N1.13.
Volume and value contribution
Market activity slowed, with total trading volume declining by 70% to 451.52 million shares valued at N13.03 billion, exchanged across 33,327 deals.
Tantalizers Plc recorded the highest trading volume, with 50.18 million shares traded, accounting for 11.11% of the total market volume.
Aradel Holdings Plc led the value chart, with trades worth N1.51 billion, representing 11.60% of the total value traded for the day.
First HoldCo Plc and Access Holdings Plc accounted for 7.22% and 6.05% of total trading volume, respectively.
In terms of value, First HoldCo Plc and Zenith Bank Plc followed Aradel Holdings Plc as the most actively traded stocks.
Elumelu, wife buy more UBA shares
Earlier, Legit.ng reported that Tony Elumelu, Chairman of the United Bank for Africa, and his wife, Vivian Awele Elumelu, have increased their stake in the bank.
recent disclosure on the Nigerian Exchange Limited shows that the couple purchased a total of 23,196,236 shares in two separate transactions, valued at N480.26 million.
Vivian Awele Elumelu acquired 9,624,441 shares at an average price of N20.71 per share.
Source: Legit.ng
