Equities market appreciates by 0.24% by commence new week positive

The domestic equities market on Monday commenced on a positive position as investors’ investments appreciated by 0.24 per cent. 

The major market indicator, Nigerrian Exchange Limited All-Share Index (NGX ASI) up by 227.68 points or 0.24 per cent to close at 96,205.85 basis points, while the  market capitalisation appreciated by N262 billion to close at N88.199 trillion.

Looking ahead, Coronation Asset Management said that “we expect market sentiment to remain cautious, pressured by continued profit-taking. Nonetheless, bargain-hunting in fundamentally sound counters, particularly ahead of Q3 earnings and most Tier-1 banking H1 2025 releases, could provide intermittent support to the ASI.”

As measured by market breadth, market sentiment was positive, as 41 stocks gained relative to 18 losers. PZ Cussons Nigeria and University Press emerged the highest price gainer of 10 per cent each to close at N35.20 and N5.50 respectively, while Ellah Lakes followed with a gain of 9.94 per cent to close at N14.27, per share.

Legeng Internet rose by 9.90 per cent to close at N5.44, while NCR Nigeria advanced by 9.84 per cent to close at N13.95, per share. On the other side, Industrial & Medical Gases Nigeria, Nigerian Enamelware, Thomas Wyatt Nigeria and Union Dicon Salt led others on the losers’ chart with 10 per cent each to close at N33.30, N35.10, N2.70 and N10.80 respectively, per share. Academy Press followed with a decline of 9.95 per cent each to close at N8.60, while Eterna declined by 9.36 per cent to close at N31.00, per share.

The total volume of trade decreased by 47.50 per cent to 947.871 million units, valued at N17.972 billion and exchanged in 36,036 deals.