Kayode Tokede

The market capitalisation of all listed companies on the Nigerian Exchange Limited (NGX) crossed the N90 trillion yesterday amid investors’ demand for MTN Nigeria Communication Plc, BUA Cement Plc and 23 others. 

As the stock price of MTN Nigeria appreciated by 0.71 per cent to close at N423.00 per share, BUA Cement gained 5.40per cent to close at N160 per share, the market capitalisation gained N154.76 billion in opened trading activities this week  to close at N90.115 trillion from N89.960 trillion the stock market closed for trading last week.

Consequently, the NGX All-Share Index  gained 0.17per cent to close at 142,377.56 basis points from 142,133.03 basis points, to bring the  year-to-date (YtD) return inched up to 38.33 per cent from the 38.09per cent recorded in prior week.

Despite the index gain, market sentiment was bearish with 36 declining stocks outnumbering 24 gainers. Thomas Wyatt Nigeria recorded the highest price gain of 10 per cent to close at N3.63, per share.  Living Trust Mortgage Bank followed with a gain of 9.90 per cent to close at N5.66, while Eterna rose by 9.86 per cent to close at N30.65, per share.

Caverton Offshore Support Group increased by 9.28 per cent to close at N6.83, while Fidelity Bank up by 8.13 per cent to close at N19.95, per share.

On the other hand, AXA Mansard Insurance led the losers’ chart by 10 per cent to close at N14.40, per share. University Press followed with a decline of 9.85 per cent to close at N5.40, while Learn Africa declined by 9.72 per cent to close at N6.50, per share.

Julius Berger depreciated by 8.70 per cent to close at N136.50, while Cornerstone Insurance declined by 7.42 per cent to close at N5.86, per share.

Meanwhile, the total volume traded declined by 25.97 per cent to 383.945 million units, valued at N11.618 billion, and exchanged in 28,114 deals. Transactions in the shares of First Holdco topped the activity chart with 47.494 million shares valued at N1.472 billion. Ellah Lakes followed with 24.462 million shares worth N290.869 million, while Veritas Kapital Assurance traded 21.872million shares valued at N44.660 million.

Zenith Bank traded 18.746 million shares valued at N1.307 billion, while Chams Holding Company sold 16.164 million shares worth N56.563 million.

This week, United Capital Plc said, “we expect the market to rebound given the rate cut decision. Macroeconomic stability will boost investors’ confidence. Expectations of Q3, 2025 earnings release should lift the market. There are strong buy opportunities in the banking, industrial, Agric and insurance sectors.”