WAPCO, others boost equity market by N136bn

The Nigerian equity market closed on a positive note on Tuesday, as key stocks, led by Lafarge WAPCO, lifted the market to N136bn gain.

The market capitalisation of the Nigerian Stock Exchange increased by 0.23 per cent to close at N59.4tn, while a total of 333,948,810 shares were traded in 9,187 deals, with a market turnover of N6.42bn.

This reflects a 19 per cent decline in volume compared to the previous trading day, but a 20 per cent increase in turnover and a two per cent rise in the number of deals.

Also, the All-Share Index gained 0.23 per cent, to close at 97,972.33 points. This brings its year-to-date gain to 31.02 per cent.

The market breadth closed positive, with 38 equities gaining in value, while 23 equities recorded price declines.

Lafarge WAPCO led the gainers with a 10 per cent increase in its share price, closing at N50.60 per share. Unilever Nigeria followed closely with a 10 per cent appreciation, closing at N26.95 per share.

Other notable gainers included Eunisell Interlinked plc, which gained 9.94 per cent to close at N14.49, and SCOA Nigeria, which also rose by 9.94 per cent to end the day at N1.88 per share. Additionally, JOHNHOLT saw a gain of 9.89 per cent, closing at N9.33, while Tantalizer rose by 9.76 per cent to close at N0.90 per share.

Conversely, PZ Cussons Nigeria was the top loser, experiencing a 9.82 per cent drop in its share price, closing at N22.50. Initiates plc followed with an 8.7 per cent decline, closing at N2.10, while Berger Paints lost 7.71 per cent to close at N17.35.

Other decliners included Honeywell Flour Mills, which fell by 4.85 per cent to N4.12, and Consolidated Hallmark Insurance, which lost 4.5 per cent, closing at N1.91. Omatek Ventures also saw a 4.41 per cent decline, closing at N0.65 per share.

In terms of trading volume, Access Holdings recorded the highest volume of shares traded with 37.8 million shares, followed by Japaul Gold and Ventures with 26.5 million shares, Chams with 23.7 million shares, and Consolidated Hallmark Holdings with 16.4 million shares.

The Top 30 Index also gained 0.22 per cent, while the Insurance Index surged by 1.9 per cent, the Industrial Index increased by 0.55 per cent, and the Premium Index rose by 0.54 per cent. Other notable indices that performed well were the Oil & Gas Index, which gained 0.35 per cent, and the Pension Index, which rose by 0.28 per cent.

The PUNCH reports that the Nigerian Stock Exchange sustained its bullish trend with an N15bn gain at the close of the first weekday of trading, as equities recorded positive growth. The All-Share Index rose by 0.03 per cent, adding 24.99 points to close at 97,747.27.  The market capitalisation rose by 0.03 per cent to close at N59.23tn.