The Nigerian equities market ended on a positive note for the second consecutive day, as investor appetite for stocks such as GTCO, Oando, Transcorp, and others boosted market performance, resulting in a capital gain of over ₦403 billion.
The Nigerian Exchange (NGX) saw its All-Share Index (ASI) rise by 637.30 points, closing at 120,977.20, reflecting a 0.53% increase. This momentum follows four consecutive sessions of decline, with sentiment shifting ahead of the anticipated second-quarter earnings season.
Market data revealed that continued interest in medium- and large-cap equities—including BERGER, UNILEVER, FTNCOCOA, OANDO, and GTCO—played a significant role in the day’s bullish movement. In total, 53 stocks posted gains, while 15 closed in the red, signalling a broadly positive market breadth.
Despite the gains in the ASI, trading volume dropped by 11.05%, though the value of transactions surged by 140.73%, indicating a preference for higher-value trades. According to Atlass Portfolio Limited, investors exchanged approximately 933.40 million shares worth ₦29.31 billion across 24,207 deals.
UNIVINSURE led trading activity by volume, accounting for 7.23% of total shares traded, followed by ACCESSCORP (6.73%), CHAMS (6.42%), JAPAULGOLD (5.31%), and GTCO (4.36%). SEPLAT emerged as the most traded stock by value, representing 46.31% of the market’s total turnover.
On the gainers’ list, ACADEMY, BERGER, DEAPCAP, and GUINEAINS recorded the maximum 10% price increase. They were closely followed by UNILEVER (+9.96%), FTNCOCOA (+9.95%), UPDC (+9.95%), RTBRISCOE (+9.93%), and UPL (+9.93%).
Conversely, NEIMETH posted the biggest decline of the session, falling by 8.49%. Other notable losers included LEGENDINT (-7.98%), VFDGROUP (-3.57%), ACCESSCORP (-2.60%), HONYFLOUR (-1.92%), and AFRIPRUD (-1.81%).
Sectoral indices also closed in the green. The insurance sector led the charge with a 2.76% gain, followed by banking (1.29%), consumer goods (0.74%), oil and gas (0.69%), and industrials (0.34%).
Overall, market capitalisation rose by ₦403.43 billion to settle at ₦76.58 trillion, mirroring the 0.53% increase in the ASI from the previous session.
