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Investors gained ₦288 billion as the NGX opened the week higher, with the All-Share Index climbing 446.85 basis points.
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Eterna and Caverton rallied by the maximum 10 percent to lead the gainers’ chart, while buying interest in Omatek, AVA Capital and Vitafoam helped sustain the market’s advance.
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Profit-taking persisted across banking, consumer goods and insurance stocks, with ETI, Cadbury Nigeria ending the session among the market’s biggest losers.
August 03, () — The Nigerian stock market began the week on a positive note on Monday as investors gained ₦288 billion, with buying interest in selected stocks helping the market overcome widespread profit-taking.
Market capitulation rose from ₦158.326 trillion to ₦158.614 trillion, while the Nigerian Exchange (NGX) All-Share Index (ASI) advanced by 446.85 basis points to close at 245,730.53 from 245,283.68 recorded in the previous session.
However, market breadth remained negative as 25 stocks appreciated against 39 decliners.
Price Session
Top 5 Gainers
- ETERNA gained 10.00 percent (moving from ₦33.00 to ₦36.30).
- CAVERTON appreciated by 10.00 percent (rising from ₦5.00 to ₦5.50).
- OMATEK advanced by 9.88 percent (increasing from ₦1.62 to ₦1.78).
- AVACAP climbed 9.70 percent (moving from ₦8.25 to ₦9.05).
- VITAFOAM added 7.90 percent (closing at ₦194.00 from ₦179.80).
Top 5 Decliners
- ETI shed 9.95 percent (declining from ₦88.95 to ₦80.10).
- CADBURY lost 9.92 percent (falling from ₦64.50 to ₦58.10).
- THOMASWY dropped 9.82 percent (moving from ₦4.38 to ₦3.95).
- WAPIC depreciated by 9.80 percent (declining from ₦2.55 to ₦2.30).
- CMFC fell 9.79 percent (closing at ₦3.50 from ₦3.88).
Dangote Cement, Presco Plc, U.A.C.N Plc, Julius Berger, Guinness Nigeria Plc, amongst others, closed flat for the session.
Investor sentiment remained cautious as investors continued to rotate into fundamentally attractive stocks while booking profits in recent outperformers. Although the market closed higher, the negative breadth suggests buying interest remained selective rather than broad-based.
The market is expected to trade cautiously in the coming sessions as investors react to incoming corporate earnings, dividend qualification dates, and fresh opportunities for bargain hunting amid continued profit-taking.
