Stock Market Resumes from Easter Holiday Bullish as Investors Make N208.65bn
- The stock market has opened the new trading week on a positive note after the Easter holiday
- The rally was driven by strong buying interest in Cadbury Nigeria, First Holdco, and Honeywell Flour Mills
- Transnational Corporation and Omatek led the gainers, while Ellah Lakes declined
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 stock market on Tuesday closed the first trading day of the week on a positive note, driven by strong demand for Cadbury Nigeria Plc, First Holdco Plc, and other blue-chip stocks.
The benchmark All-Share Index (ASI) rose by 0.16% to settle at 202,023.10 points, up from 201,698.89 points recorded in the previous session.
Source: Getty Images
Market capitalisation increased by N208.65 billion to close at N130.01 trillion, while the year-to-date return stood at 29.82%.
Despite the gains, market breadth was negative, with 37 decliners compared to 24 gainers. Transnational Corporation Plc led the gainers’ chart, while Ellah Lakes Plc topped the losers. Transnational Corporation Plc and Cadbury Nigeria Plc also traded above their 52-week highs at N3.12 and N75.25, respectively.
Volume and value contribution
Market activity strengthened significantly, with total volume traded rising by 105.85% to 1.15 billion shares valued at N40.28 billion across 78,006 deals.
Wema Bank Plc led both volume and value charts, with 282.58 million shares traded worth N7.29 billion, accounting for 24.51% and 18.10% of total volume and value, respectively.
Access Holdings Plc and VFD Group Plc accounted for 10.86% and 9.27% of total volume, respectively, while Guaranty Trust Holding Company Plc and Access Holdings Plc followed Wema Bank Plc in traded value.
Source: Getty Images
Top gainers
- Transnational Corporation Plc rose from N2.84 to N3.12, gaining N0.28 (+9.86%).
- Omatek Ventures Plc advanced from N2.05 to N2.25, adding N0.20 (+9.76%).
- Cadbury Nigeria Plc increased from N68.70 to N75.25, gaining N6.55 (+9.53%).
- First Holdco Plc climbed from N50.00 to N54.55, up N4.55 (+9.10%).
- FTN Cocoa Processors Plc gained from N1.23 to N1.31, rising N0.08 (+6.50%).
Top losers
- Ellah Lakes Plc fell from N12.00 to N10.80, losing N1.20 (–10.00%).
- DAAR Communications Plc declined from N1.91 to N1.72, down N0.19 (–9.95%).
- Chams Holding Company Plc dropped from N3.75 to N3.38, shedding N0.37 (–9.87%).
- John Holt Plc decreased from N15.45 to N13.95, losing N1.50 (–9.71%).
- SUNU Assurances Nigeria Plc fell from N4.65 to N4.20, down N0.45 (–9.68%).
Most active stocks
- Wema Bank Plc recorded the highest activity with 282.58 million shares valued at N7.29 billion.
- Access Holdings Plc traded 125.17 million shares worth N3.25 billion.
- VFD Group Plc exchanged 106.83 million shares valued at N1.13 billion.
- First Holdco Plc recorded 62.96 million shares worth N3.19 billion.
- Guaranty Trust Holding Company Plc traded 56.59 million shares valued at N7.05 billion.
Elumelu secures another mega company
Legit.ng earlier reported that Billionaire entrepreneur Tony Elumelu is set to further expand his wealth and influence after becoming the largest shareholder in Seplat Energy Plc through a $496 million acquisition.
Elumelu, via his investment vehicle Heirs Holdings and its subsidiary Heirs Energies Ltd, acquired a 20.07% equity stake in Seplat Energy from French oil firm Etablissements Maurel & Prom S.A. (M&P), according to a regulatory filing on the Nigerian Exchange shared on Wednesday, December 31
Source: Legit.ng
