Equities market gains, investors pocket N1.8trn

The equities market sustained its positive performance on Tuesday, adding N1.838 trillion to investors’ portfolios as renewed buying interest pushed key indices higher.

The positive performance was due to investors’ continued interest in stocks like: Etranzact, John Holt, Deap Capital Management, Omatek, Vitafoam and 61 other equities.

The market capitalisation rose from N111.658 trillion to N113.496 trillion at the close of trading on Tuesday, an increase of 1.65 per cent or N1.838 trillion.

Similarly, the All-Share Index surged from 173,946.22 to 176,809.43, gaining 1.65 per cent or 2,863.21 points.

This brings the year-to-date (YTD) return to 13.62 per cent.

Also, the market breadth closed positive, recording 66 gainers against 22 losers.

Etranzact, John Holt, Deap Capital Management and Omatek Ventures led the gainers’ chart, rising by 10 per cent each, settling at N20.35, N8.80, N8.25 and N3.19 per share, respectively.

Similarly, Vitafoam soared by 9.98 per cent, finishing at N105.80 per share

On the flip side, Abbey Mortgage Bank led the losers’ chart by 9.82 per cent, ending the session at N12 40, Skyway Aviation Handling Company trailed by 9.06 per cent, finishing at N150 while Guinea Insurance fell by 6.67 per cent, closing at N1.54 per share.

Also, Consolidated Hallmark Holdings dropped by 6.64 per cent, settling at N4.50 and Livestock Feeds dipped 6.34 per cent, closing at N6.65 per share.

A total of 1.3 billion shares valued at N50.4 billion were exchanged in 58,965 transactions, against 775.18 million shares worth N27.9 billion that was traded across 65,960 deals earlier on Monday.

This translates to a 35 per cent increase in volume, 75 per cent growth in value, but 11 per cent decline in deals.

Meanwhile, Deap Capital Management recorded the highest volume with 283.12 million shares traded, accounting for 21.73 per cent of the day’s total volume.

MTN Nigeria recorded the highest value traded at N6.80 billion, accounting for 13.49 per cent of the total value traded for the day.

Reacting, the Vice President of Highcap Securities Ltd., Mr David Adonri, said the strong market performance reflected widespread buying interest across sectors.

According to him, many stocks recorded strong demand, with the market gaining about 1.65 per cent, which he described as significant when translated to value terms.

He noted that the appreciation cut across various segments of the market, with many small-cap stocks sustaining their upward momentum, while Exchange Traded Funds (ETFs) also maintained their bullish trend.

Adonri identified the banking sector as a major driver of the rally, as he said most banking stocks recorded substantial gains that lifted the overall market performance.

He explained that other heavyweight stocks, including Presco, MTN and Dangote Cement, also appreciated.

He described the trend as a strong vote of confidence by investors, indicating that the rally that began at the start of the year was gaining further momentum rather than slowing down.

He attributed the sustained bullish run partly to the ongoing earnings season, noting that corporate results released so far had impressed investors and strengthened confidence in the market.

Adonri noted that with more financial results expected, investor sentiment remained positive as the All-Share Index continued to trade at record-high levels.

Vanguard News

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