Emmanuel OchayiPositive Streak for Equity Market
The Nigerian equity market experienced a notable boost this week as the All-Share Index (ASI) rose by 0.26% on Wednesday.
This marks the third consecutive session of gains, propelled by significant activity in the stocks of Lafarge Africa, Eunisell Interlinked, Honeywell Flour Mills, and newly listed Haldane McCall Plc.
Join our WhatsApp ChannelHaldane McCall Shines Post-Listing
Haldane McCall Plc debuted on the Nigerian Exchange Limited (NGX) via listing by introduction at N3.84 per share. Following its debut, the stock surged to close at N4.22, signalling strong investor interest. This activity accounted for 39,598,084 shares traded, valued at N167.103 million.
Speaking on the listing, NGX CEO Temi Popoola stated, “The successful debut of Haldane McCall is a testament to the growing confidence in Nigeria’s equity market. It underscores the role of our market in deepening access to capital for businesses.”
Haldane McCall, a prominent player in real estate and hospitality across Africa, owns the popular Suru Express Hotels and Suru Homes brands.
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Market Performance Backed by Strong Players
Stocks of Lafarge Africa emerged as top gainers, surging from N50.60 to N55.65, an increase of N5.05 or 9.98%. Honeywell Flour Mills rose by 9.95%, while Eunisell Interlinked climbed 9.94%. These performances pushed the NGX ASI to 98,227.50 points, while market capitalisation expanded to N59.533 trillion.
Market analyst Chidi Nwosu remarked, “These movements reflect a combination of strong fundamentals and positive investor sentiment. We expect more liquidity-driven activities in the coming days.”
Investor Activity on the Rise
The session recorded 370.5 million shares traded in 10,026 deals, valued at N8.448 billion.
Key players in the market included Access Holdings, UBA, Guinea Insurance, and Lafarge Africa, alongside Haldane McCall.
Equity Market Gains Reflect Growing Confidence
The Nigerian equity market’s consistent positive performance this week signals growing investor confidence, bolstered by the inclusion of companies like Haldane McCall.
As stakeholders continue to leverage the market’s opportunities, the NGX remains poised to deepen access to capital for businesses across sectors.
Emmanuel Ochayi is a journalist. He is a graduate of the University of Lagos, School of first choice and the nations pride. Emmanuel is keen on exploring writing angles in different areas, including Business, climate change, politics, Education, and others.
