Nigerian Equities Market Opens Week with Gains

On September 14, the Nigerian equities market commenced the trading week on a positive note, with the All-Share Index (ASI) increasing by 246.50 points from an opening level of 243,052.74 to close at 243,299.24, marking a gain of 0.10 percent. Concurrently, the market capitalisation rose by ₦160 billion, elevating it from ₦157.587 trillion to ₦157.747 trillion.

Despite this overall market advance, the market breadth remained negative, with 21 stocks gaining and 29 declining, reflecting cautious investor sentiment. Notable gainers included ROYALEX, which rose by 10.00 percent (₦0.90 to ₦0.99), and NGXGROUP, which also gained 10.00 percent (₦148.00 to ₦162.80).

Conversely, JOHNHOLT fell by 10.00 percent (₦9.00 to ₦8.10), while DAARCOMM and ELLAHLAKES both experienced declines of 9.80 percent. The session illustrated a mixed trading environment, with modest gains in the benchmark index and market capitalisation amid a predominance of declining stocks.