By Ayomide Otitoju
The Nigerian equity market closed positively on Tuesday, buoyed by gains in key stocks, with Lafarge WAPCO leading the charge. The market recorded a N136 billion increase in capitalisation, reflecting a 0.23% rise to close at N59.4 trillion.
The All-Share Index (ASI) also advanced by 0.23%, closing at 97,972.33 points and bringing the year-to-date gain to 31.02%.
Market activity saw 333.95 million shares traded in 9,187 deals, with a turnover of N6.42 billion. This marked a 19% decline in trading volume compared to the previous session but a 20% uptick in turnover and a 2% increase in the number of deals.
Top Gainers
Lafarge WAPCO topped the gainers’ list with a 10% surge, closing at N50.60 per share. Unilever Nigeria followed closely, also posting a 10% gain to close at N26.95 per share.
Other notable gainers included:
Eunisell Interlinked PLC: +9.94% (N14.49)
SCOA Nigeria: +9.94% (N1.88)
John Holt: +9.89% (N9.33)
Tantalizer: +9.76% (N0.90)
Top Losers
Conversely, PZ Cussons Nigeria led the decliners with a 9.82% drop to close at N22.50 per share. Other laggards included:
Initiates PLC: -8.7% (N2.10)
Berger Paints: -7.71% (N17.35)
Honeywell Flour Mills: -4.85% (N4.12)
Consolidated Hallmark Insurance: -4.5% (N1.91)
Omatek Ventures: -4.41% (N0.65)
Trading Highlights
Access Holdings recorded the highest trading volume with 37.8 million shares. Japaul Gold and Ventures followed with 26.5 million shares, Chams traded 23.7 million shares, and Consolidated Hallmark Insurance recorded 16.4 million shares.
Sector Performance
Sector indices posted mixed performances:
Insurance Index: +1.9%
Industrial Index: +0.55%
Premium Index: +0.54%
Oil & Gas Index: +0.35%
Pension Index: +0.28%
The bullish sentiment extended from Monday’s trading session, which saw a modest N15 billion gain. Analysts note that sustained investor confidence and positive corporate performance continue to drive the market’s upward trend.
