Nigerian stock market gains N10.24bn as ASI inches up 2bps
BY TEMITOPE ADEBAYO
The Nigerian Exchange (NGX) All-Share Index (ASI) opened the week with a marginal gain of 2 basis points (bps), closing at 102,370.36 points. This modest increase lifted the market capitalisation by N10.24 billion to settle at N62.86 trillion.
The slight upward movement was supported by demand for key stocks, including OANDO (+3.06%), ZENITHBANK (+0.43%), and FIDELITYBK (+3.41%), which offset profit-taking in FBNH (-0.17%) and ACCESSCORP (-0.21%).
Consequently, the year-to-date (YTD) loss improved slightly, moderating from 56bps to 54bps.
Market activity witnessed a surge, with turnover jumping 49.62 per cent compared to the previous session. Investors traded 1.33 billion shares worth N17.67 billion in 13,891 deals. WEMABANK emerged as the most traded stock, dominating both the volume and value charts with 980.04 million shares valued at N9.80 billion.
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Market breadth ended on a positive note, with a 1.16-to-1 ratio favouring gainers. Twenty-nine stocks advanced, led by CAVERTON (+10.00%), while twenty-five declined, with JOHNHOLT (-9.63%) recording the steepest loss.
The positive start to the week reflects cautious optimism among investors as they navigate market conditions.
