N197bn Boost for Nigerian Stocks as GTCO, Access, Oando Shine

GTCO, Access, Oando Lead Stock Market Rebound with N197bn Gain

Access Corporation topped the volume chart with 45.95 million shares traded, while Seplat led...

Nigerian Stock Market Gains N197bn: GTCO, Access, Oando Lead Recovery

The Nigerian stock market extended its winning streak on Tuesday, notching a 0.33% gain that boosted investors' wealth by N197 billion. Market capitalization swelled from N59.510 trillion to N59.707 trillion.

The All-Share Index (ASI) also rose by 0.33%, adding 326 points to close at 98,540.93, up from Monday's 98,215.13. This uptick pushed the Year-To-Date (YTD) return to 31.79%.

Key stocks drove the market's ascent, with Guaranty Trust Holding Company (GTCO), Access Corporation, and Oando Plc leading the charge. These gains underscored the market's continued momentum.

Despite the Nigerian stock market's 0.33% gain, the market breadth closed in the red, with 28 decliners outweighing 15 advancers.

Losers Outnumber Gainers

Caverton Offshore Support Group led the losers, plummeting 10% to N2.34 per share. Champion Breweries spearheaded the gainers, surging to N3.42 per share.

Market Activity:

Transaction value soared 36.07% compared to the previous session.

Key Statistics:

• Total shares traded: 286.04 million Transaction value: N26.82 billion
• Number of deals: 9,650

Previous Session:

• Total shares traded: 304.97 million
• Transaction value: N19.71 billion
• Number of deals: 8,083

The market's increased turnover signals heightened investor activity.

Access Corporation topped the volume chart with 45.95 million shares traded, while Seplat led in value with transactions valued at N1.18 billion.