Samuel Mobolaji
The Nigerian stock market closed in positive territory today, with the All-Share Index (ASI) rising by 0.23 per cent, reflecting growing investor confidence and optimism.
Leading the charge was Flourmill, which posted a remarkable 10.00 per cent gain, solidifying its position as the top performer of the day and drawing significant attention from investors.
Other notable gainers included FBN Holdings (FBNH), which also recorded a 10.00 per cent rise, contributing to the overall upbeat market sentiment. However, Eterna led the day’s decliners, shedding 10.00 per cent, followed by Oando, which fell by 9.94 per cent, and Abbey Mortgage Bank (ABBEYBDS), which dropped 9.88 per cent.
Trading volume surged as 471.29 million shares were exchanged, marking a significant increase from the 412.90 million traded in the previous session. Japaul Gold dominated in terms of volume, with 72.26 million shares traded, while Transcorp and FBNH followed with 51 million and 46.80 million shares, respectively.
In terms of value, FBNH led the market with transactions totaling ₦1.45 billion, followed closely by Oando, with trades worth ₦1.36 billion. Other key contributors to trading value included Geregu Power (₦1.13 billion), UBA (₦1.09 billion), and Transcorp Hotels (TRANSCOHOT) (₦609.73 million).
Investors showed strong interest in large-cap stocks, with Airtel Africa, BUA Cement, BUA Foods, Dangote Cement, Seplat Energy, and Transcorp Power maintaining stability. The banking sector also saw positive movements, with UBA and GTCO advancing by 2.32 per cent and 1.96 per cent, respectively.
Despite these gains, Access Bank (ACCESSCORP) and Zenith Bank recorded minor losses, declining by 0.78 per cent and 3.42 per cent, respectively.
As the market continues its recovery from the correction phase that began in April, investors are closely monitoring the sustained bullish sentiment and increased trading volumes, signaling further potential upside in the coming days.
