Market Cap Surges ₦1.05 Trillion in a Day: Eti and Peers Power the Rally (International Edition)
Yesterday, the stock market segment of the Nigerian Exchange Limited (NGX) maintained its upward trend with gains totaling N1.05 trillion as investors exhibited robust enthusiasm for shares in Ecobank Transnational Incorporated Plc (which saw an increase of 10 percent), along with another 41 major corporations' securities.
The All Share Index (ASI) increased by 1,662.60 points, marking a rise of 1.56 percent to finish at 108,361.10 points for the month. TheMonth-to-Date andYear-to-Datereturns stood at+2.6percent and+5.3percent, respectively.
Additionally, the market capitalization increased by N1.05 trillion, closing at N68.105 trillion.
The market sentiment stayed positive as 42 stocks advanced compared to 25 that declined. Shares of Ecobank Transnational Incorporated (ETI), Northern Nigeria Flour Mills (NNFM), and Nestlé Nigeria climbed by 10 percent each, closing at N25.85, N82.50, and N1,210.00 per share respectively.
Beta Glass rose by 9.98 percent to finish trading at N132.80, while Austin Laz & Company climbed by 9.94 percent to end at N1.88 per share.
Conversely, Guinea Insurance topped the list of decliners with an 8.70 percent drop, closing at 63 kobo per share. This was followed by DAar Communications, which fell by 6.78 percent to close at 55 kobo per share. Meanwhile, VFD Group decreased by 6.59 percent, finishing at N17.00 per share.
Wapic Insurance dropped by 6.07 percent to finish at N2.01, whereas Regency Alliance Insurance fell by 4.69 percent to end at 61 kobo per share.
Additionally, the overall trading volume decreased by 16.45 percent to reach 475.459 million units, amounting to N13.899 billion across 17,575 transactions. The highest activity was recorded in Access Holdings' stocks, which saw 103.915 million shares traded, totaling N2.202 billion. This was closely followed by GTCO with 37.985 million shares worth N2.423 billion, and UBA rounding up the top three with 30.731 million shares valued at N1.039 billion.
Sterling Financial Holdings Company traded 27.177 million shares amounting to N147.244 million, whereas Enith Bank disposed of 26.184 million shares totaling N1.235 billion.
Regarding the market outlook, Afrinvest Limited stated, “We anticipate that the local stock exchange will continue to see increases, fueled by investors reappraising potential within the market following the generally strong Q1 2025 financial reporting season.”
Provided by Syndigate Media Inc. ( Syndigate.info ).
