Aso Savings, Skyway Aviation drive N1.4trn gain on NGX

By Seun Ibiyemi 

Aso Savings & Loans, Skyway Aviation Handling Company (SAHCO) Plc, and Ucfg vPDC Real Estate Investment Trust (REIT) emerged as the major drivers of the N1.4trn gain on the Nigerian equities market yesterday.

Investors had a renewed buying interest in financial and industrial stocks.

The benchmark All-Share Index (ASI) climbed by 2,279.34 points, or 1.5 percent, to close at 153,736.25 points, up from 151,456.91 points recorded the previous day. Consequently, the equity market capitalisation rose to N97.5 trillion from N96.1 trillion, reflecting an increase of N1.4 trillion.

Market breadth closed positive, with 32 gainers, 30 losers, and 84 unchanged equities across 28,485 deals. A total of 589.49 million units of shares, valued at N24 billion, were exchanged during the session.

Aso Savings & Loans led the gainers’ chart, appreciating by 10 per cent to close at N0.55 from N0.50 per share. It was followed by Skyway Aviation Handling Co. Plc, which gained 9.99 per cent to close at N99.05, and UPDC Real Estate Investment Trust, which rose by 8.16 per cent to N7.95 per share.

On the flip side, The Initiates Plc declined by 5.73 per cent to close at N13.00, while Legend Internet and Royal Exchange Plc fell by 5.69 per cent and 4.76 per cent to N5.80 and N2.20 per share, respectively.

On the volume chart, Fidelity Bank Plc led with 94 million shares traded in 589 deals, followed by Guaranty Trust Holding Company (GTCO) with 74 million shares in 1,204 deals, and Access Holdings Plc with 59 million shares exchanged in 1,507 deals.

In terms of value, GTCO topped with transactions worth N6.9 billion, trailed by Fidelity Bank Plc with N1.8 billion, and Aradel Power Holding Plc, which traded shares valued at N1.6 billion.

The sustained positive sentiment suggests investors are positioning ahead of upcoming third-quarter earnings reports, with analysts predicting continued momentum in the near term if liquidity remains robust.