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Stock market update: Investors wealth rises by N1.27 trillion

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  • Investors’ wealth rose by N1.27 trillion as Nigerian stock market extended its bullish run
  • The rally was driven by gains in Seplat Energy, Custodian Investment, Julius Berger Nigeria, and MTN Nigeria Communications
  • Deap Capital Management and Trust led the losers, with Access Holdings and Geregu Power among the most actively traded stocks

The Nigerian equities market extended its strong performance run on Thursday, February 5 as investors’ wealth rose by N1.27 trillion, driven by strong buying interest in large- and mid-cap stocks.

The rally pushed the benchmark NGX All-Share Index (ASI) up by 1.18% to 170,005.36 points from 168,030.18 points recorded in the previous session.

Stock market update: Investors’ wealth rises by N1.27 trillion
NGX extends rally, investors’ wealth jumps by N1.27 trillion.
Photo: ADF
Source: Getty Images

Market capitalisation also increased to N109.13 trillion, reflecting the fresh inflow of funds into equities.

Market sentiment closed firmly bullish, with 53 gainers against 18 losers. Seplat Energy Plc led the gainers, while Deap Capital Management and Trust Plc topped the losers’ chart.

Stock market update: Investors’ wealth rises by N1.27 trillion

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Market activity

Trading activity improved, with total volume rising by 2.62 per cent to 712.98 million shares valued at N22.26 billion, executed in 46,104 deals.

Access Holdings Plc recorded the highest trading volume, with 106.63 million shares exchanged, accounting for 14.96 per cent of the total volume traded.

Geregu Power Plc led in value terms, with transactions worth N2.80 billion, representing 12.58 per cent of the day’s total value.

Chams Holding Company Plc and Champion Breweries Plc accounted for 6.24 per cent each of total market volume, while Access Holdings Plc and Seplat Energy Plc followed Geregu Power Plc among the most valuable traded stocks.

Top gainers

  • Guinea Insurance Plc rose from N1.30 to N1.43, gaining 13 kobo (+10.00%).
  • Consolidated Hallmark Insurance Plc advanced from N100.00 to N110.00, up N10.00 (+10.00%).
  • Seplat Energy Plc climbed from N6,700.00 to N7,370.00, adding N670.00 (+10.00%).
  • Lotus Halal Fixed Income Exchange Traded Fund moved from N177.15 to N194.86, gaining N17.71 (+10.00%).
  • RT Briscoe Plc increased from N10.45 to N11.49, rising by N1.04 (+9.95%).

Top losers

  • FGN Sukuk 2031 Series IV declined from N99.00 to N81.00, shedding N17.99 (–18.17%).
  • Deap Capital Management and Trust Plc fell from N6.86 to N6.20, down N0.66 (–9.62%).
  • Universal Insurance Plc dropped from N1.59 to N1.44, losing N0.15 (–9.43%).
  • HM Capital Plc slipped from N4.40 to N4.00, down N0.40 (–9.09%).
  • Red Star Express Plc declined from N17.15 to N15.60, shedding N1.55 (–9.04%).
Stock market update: Investors’ wealth rises by N1.27 trillion
NGX closes green as market capitalisation hits N109.13trn
Photo: Bloomberg
Source: Getty Images

Most active stocks

  • Access Holdings Plc traded 106.63 million shares valued at N2.45 billion.
  • Chams Holding Company Plc exchanged 44.50 million shares worth N201.31 million.
  • Champion Breweries Plc recorded 44.46 million shares valued at N774.31 million.
  • Universal Insurance Plc traded 34.82 million shares worth N53.64 million.
  • Deap Capital Management and Trust Plc posted 22.74 million shares valued at N141.91 million.

Naira improve against pound

We reported that the naira appreciated against the United States dollar, pound and euro in the official foreign exchange market

However, pressure persisted in the parallel market as BDC operators continued to raise exchange rates.

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