The Nigerian stock market began August on a positive note, with investors recording a combined gain of N288.44 billion as renewed buying interest in medium and large-cap stocks lifted the market.
At the close of trading on Monday, the Nigerian Exchange (NGX) All-Share Index (ASI) advanced by 446.85 points, or 0.18 per cent, to settle at 245,730.53. Market capitalisation also rose by 0.18 per cent to N158.61 trillion.
The modest recovery ended the market’s recent losing streak, even as the overall market breadth remained negative, reflecting more declining stocks than gainers.
Trading activity was mixed during the session. While the volume of shares traded dipped by 2.12 per cent, the total value of transactions fell by 19.02 per cent.
ACCESSCORP emerged as the most actively traded stock by volume, accounting for 18.09 per cent of total shares exchanged. It was followed by HONYFLOUR with 10.15 per cent, STERLINGNG (6.20 per cent), UNIVINSURE (5.62 per cent), and CHAMS (3.67 per cent).
By value, ARADEL dominated trading, contributing 12.13 per cent of the total market turnover.
On the gainers’ chart, CAVERTON and ETERNA led the pack with a 10.00 per cent appreciation each. They were followed by OMATEK, which gained 9.88 per cent, AVACAP (9.70 per cent), VITAFOAM (7.90 per cent), FTGINSURE (7.69 per cent), and MCNICHOLS (5.22 per cent), alongside several other advancing stocks.
However, market sentiment remained broadly cautious as 39 equities closed lower compared to 25 gainers. ETI recorded the steepest decline, shedding 9.95 per cent, ahead of CADBURY (-9.92 per cent), THOMASWY (-9.82 per cent), WAPIC (-9.80 per cent), CMFC (-9.79 per cent), and TRANSEXPR (-9.57 per cent).
Sectoral performance was largely negative, with the Insurance Index posting the biggest loss of 1.78 per cent. The Consumer Goods and Oil & Gas indices also declined by 0.18 per cent and 0.09 per cent, respectively.
In contrast, the Banking Index led the gainers among sectoral indices, rising by 0.75 per cent, while the Industrial Goods Index posted a modest increase of 0.21 per cent, helping the broader market close in positive territory.