Nigerian Stock Market posts N37B capital gains

The Nigerian stock market opened the week positively on Monday, adding N37 billion to investors’ portfolios.

Specifically, the market capitalisation, which opened at N63.166 trillion, gained N37 billion, or 0.06 percent, to close at N63.203 trillion.

The All-Share index also advanced by 0.06 per cent or 62 points, to close at 103,648.24, against 103,586.33 recorded on Friday.

Consequently, the Year-To-Date (YTD) return rose to 0.70 per cent.

Buyers’ interest in Tier-one banks, namely, Zenith Bank, FBN Holdings, Access Corporation, alongside other advanced equities drove the market performance up.

Market breadth closed positive with 50 gainers and 21 losers.

Daar Communications and Wema Bank led the gainers’ chart by 10 per cent each to close at 77k and N11 per share, respectively.

Honeywell Flour Mills followed closely by 9.99 per cent to close at N8.37, and Wapic gained 9.96 per cent to close at N2.98 per share.

LASACO Assurance Plc also increased 9.95 per cent to close at N4.09 per share.

On the other hand, Cutix led the losers’ chart by 5.45 per cent to close at N2.60, Caverton trailed by 5.36 per cent to close at N2.65 per share.

Jaiz Bank lost 5.23 per cent to close at N3.08, Champion dropped 4.53 per cent to close at N4 and Ikeja Hotel decreased by 4.26 per cent to close at N12.35 per share.

Analysis of the market activities showed trade turnover settled higher relative to the previous session, with the value of transactions up by 60.73 per cent.

A total of 855.97 million shares valued at N13.25 billion were exchanged in 16,505 deals, compared with 709.28 million shares valued at N8.24 billion traded in 13,593 deals posted previously.

Meanwhile, Chams led the activity chart in volume with 80.76 million shares, while Guaranty Trust Holding Company(GTCO)led in value of deals worth N3.07 billion.

In a market outlook for the week, analysts at Cowry Asset Management Ltd., said that the robust start to 2025 underscored the growing appeal of the Nigerian Exchange as a hub for portfolio diversification.

The analysts explained that sectors such as insurance, banking, consumer goods, and industrial goods saw notable investor interest, with a focus on stocks poised to deliver substantial returns in the near term.

Looking ahead, they noted that market sentiment remains bullish, although some profit-taking could moderate gains in the short term.

“Overall, the outlook for 2025 is optimistic, with expectations of sustained investor confidence and market resilience.

“Thus, we continue to advise investors to take a position in stocks with strong upsides and fundamentals,” they said.