Nigerian Stock Market Gains N187bn Amid Mixed Sentiment

The stock market section of the Nigerian Exchange Limited (NGX) closed last week with a positive performance, gaining N187 billion due to favorable investor sentiment. The NGX All-Share Index (ASI) increased by 0.12 percent week-on-week, finishing at 245,573.60 points, while the market capitalization rose to N158.513 trillion.

The year-to-date return for the market improved to 57.81 percent. However, the market breadth was negative, with 26 stocks gaining and 63 declining, indicating cautious investor sentiment as declining stocks outnumbered advancing ones throughout the week.

AVA Capital topped the gainers' list with a 33.33 percent increase, closing at N11.00 per share. FCMB Group followed with a 13.10 percent gain to close at N12.95, and First Holdco rose by 12.23 percent to close at N145.40 per share.

Conversely, Thomas Wyatt Nigeria led the decliners with a 26.71 percent drop, closing at N3.21 per share, followed by Trans-Nationwide Express with a 23.76 percent loss at N2.15, and Critical Minerals Financing Corp, which declined by 22.68 percent to close at N3.00 per share.