The Nigerian equities market closed yesterday buying and selling on a optimistic notice with a achieve of N410 billion, extending its upward trajectory for the fourth consecutive session on this yr, as selective shopping for curiosity continued to help costs throughout the market.
In consequence, the lead indicator, NGX All-Share Index superior by 640.68 factors or 0.40 per cent to shut at 160,591.76 factors. Additionally, market capitalisation gained N410 billion to shut at N102.685 trillion.
The upturn was impacted by good points recorded in medium and enormous capitalised shares, amongst that are; Seplat Power, Okomu Oil, Eunisell Interlinked, NCR Nigeria and Lafarge Africa.
On market outlook, Imperial Asset Managers Restricted stated, “near-term sentiment is anticipated to stay cautiously optimistic, supported by robust early-year momentum, enhancing market capitalization, and sustained curiosity in choose mid- and large-cap shares.
“Nonetheless, the unfavourable shut within the Banking index and the slight deterioration in market breadth counsel growing selectivity, as buyers rotate out of latest outperformers and lock in earnings.
“Going ahead, market route is more likely to be pushed by stock-specific fundamentals, earnings expectations, and sector rotation, with buying and selling exercise remaining blended as contributors steadiness optimism with profit-taking pressures.”
Nonetheless, the market sentiment was bearish with 35 advancing shares outweighed by 38 declining counters. Okomu Oil, Union Dicon Salt and Seplat Power recorded the best worth achieve of 10 per cent every to shut at N1,204.50, N8.80 and N6,171.00 respectively, per share. NCR Nigeria adopted with a achieve of 9.97 per cent to shut at N79.95, whereas McNichols rose by 9.93 per cent to shut at N4.76, per share.
Alternatively, Cadbury Nigeria led the losers’ chart by 10 per cent to shut at N63.00, per share. Austin Laz & Firm adopted with a decline of 9.93 per cent to shut at N5.08, whereas Aluminium Extrusion Industries declined by 9.91 per cent to shut at N19.55, per share.
Haldane McCall depreciated by 9.85 per cent to shut at N4.21, whereas FTN Cocoa Processors declined by 9.62 per cent to shut at N6.01, per share.
In the meantime, the whole quantity traded rose by 90.84 per cent to 1.441 billion models, valued at N20.695 billion, and exchanged in 49,286 offers. Transactions within the shares of Common Insurance coverage topped the exercise chart with 804.114 million shares valued at N410.401 million. Linkage Assurance adopted with 54.880 million shares price N98.845 million, whereas Entry Holdings traded 29.739 million shares valued at N691.536 million.
Ellah Lakes traded 26.507 million shares valued at N446.385 million, whereas Mutual Advantages Assurance bought 24.476 million shares price N100.198 million.
