Nigerian Stock Market Gains N192bn on First Holdco Demand

On the previous trading day, the Nigerian stock market appreciated by N192 billion, primarily due to increased demand for First Holdco Plc and 23 other quoted companies on the Nigerian Exchange Limited (NGX). The stock price of First Holdco advanced by 2.19%, closing at N140 per share, up from N137 per share.

Consequently, the market capitalization rose to N158.278 trillion from N158.087 trillion. The NGX All Share Index increased by 0.12%, settling at 245,209.34 basis points, with Year-to-Date returns at 57.6%.

Sectoral performance was generally positive, with the NGX Banking Index gaining 0.6%, the NGX Consumer Goods Index advancing by 0.2%, and the NGX Oil & Gas index increasing by 0.1%. However, the NGX Insurance Index dipped by 0.9%, and the NGX Industrial Goods index closed flat.

Market breadth was negative at 0.64x, with 23 gainers against 36 losers. Eterna emerged as the top gainer, appreciating by 10% to N36.30 per share, while ETI recorded the steepest decline, dropping by 9.99% to close at N72.10 per share.

The total volume traded decreased by 35.5% to 531.77 million units, valued at N20.46 billion, with FCMB Holdings Plc being the most traded stock by volume.