Nigerian Stock Market Gains N288bn at August Start

The Nigerian stock market commenced August with a notable gain of N288.44 billion, driven by renewed buying interest in medium and large-cap stocks. The Nigerian Exchange (NGX) All-Share Index (ASI) increased by 446.85 points, or 0.18 percent, closing at 245,730.53.

Market capitalization also rose by 0.18 percent to N158.61 trillion, marking an end to the market's recent losing streak. However, the overall market breadth remained negative, with 39 equities declining compared to 25 gainers.

ACCESSCORP was the most actively traded stock by volume, accounting for 18.09 percent of total shares exchanged, followed by HONYFLOUR and STERLINGNG. In terms of value, ARADEL led with 12.13 percent of total market turnover.

CAVERTON and ETERNA topped the gainers' list with a 10.00 percent increase each. Conversely, ETI experienced the largest decline at 9.95 percent.

Sector performance was mixed, with the Banking Index gaining 0.75 percent while the Insurance Index fell by 1.78 percent.