The Nigerian stock market, yesterday, extended its gaining streak by N111 billion, driven by positive sentiment in Julius Berger Plc and 49 others.
The all-share index rose by 175.12 per cent, representing a gain of 0.12 per cent, to close at 146,055.89 points. Similarly, the overall market capitalisation value gained N111 billion to close at N 92.405 trillion.
The market positive performance was driven by price appreciation in large and medium capitalised stocks which are Julius Berger, Lafarge Africa, NEM Insurance, AXA Mansard Insurance and Champion Breweries.
On what will shape the market in the next trading session, analysts at Vetiva Dealings and Brokerage said: “Macro drivers step back into focus as H2 positioning resets. We’re seeing orderly profit-taking in H1 winners, rotation not de-risking. With rates drifting lower and liquidity steady, the equity risk premium still favors the buy side, so pullbacks look like opportunity.
“We note that momentum is cooling and realised volatility is normalizing, but trend structures remain intact. We anticipate that smart money will buy the dip in quality names, letting the market hand them attractive entry prices.”
Afrinvest Limited said: “We expect the bourse to maintain its positive performance driven by improved investor sentiment.”
Investor sentiment remained upbeat, with market breadth closing positive as 50 stocks advanced against 29 decliners. Associated Bus Company, Champion Breweries, Ellah Lakes, Sunu Assurance, AXA Mansard Insurance, Prestige Assurance, Wapic Insurance and The Initiates Plc (TIP) recorded the highest price gain of 10 per cent each to close at N4.95 kobo, N17.38 kobo, N16.06 kobo, N6.05 kobo, N17.71 kobo, N2.20 kobo , N4.07 kobo and N14.52 kobo respectively.
Julius Berger followed with a gain of 9.99 per cent to close at N147.60, while Mutual Benefits Assurance rose by 9.97 per cent to close at N3.53 kobo.
On the other hand, Juli led the losers’ chart by 10 per cent to close at N9, per share. Unilever Nigeria followed with a decline of 9.97 per cent to close at N71.30 kobo, while Custodian Investment dipped by 9.55 per cent to close at N37.90 kobo.
Academy Press shed 7.78 per cent to close at N8.30 kobo, while May & Baker Nigeria lost 7.69 per cent to close at N18.
The total volume fell by 39.6 per cent per cent to 1.277 billion units, valued at N24.255 billion, and exchanged in 31,155 deals. Transactions in the shares of Lasaco Assurance topped the activity chart with 107.216 million shares valued at N439.21 million. Japaul Gold & Venture followed with 106.9 million shares worth N302.655 million, while Sterling Financial Holdings Company traded 97.834 million shares valued at N784.452 million.
AIICO Insurance traded 64.992 million shares valued at N273.37 million, while Access Holdings transacted 61.09 million shares worth N1.685 billion.
