The Nigerian stock market continued its upward momentum as it added N259 billion in value due to renewed investor confidence and increased buying interest. This surge lifted the market capitalisation to N70.894 trillion from the previous day’s N70.635 trillion. The All-Share Index (ASI) also rose by 411.52 points, or 0.37 per cent, closing at 112,427.48.
The rally was largely driven by strong demand in medium and large capitalised stocks, including Honeywell Flour Mill, SCOA Nigeria, and SFS Real Estate Investment Trust. In total, 36 stocks gained while 32 declined, reflecting a positive market breadth. The performance of these key stocks boosted overall market sentiment, encouraging further investment activity.
Among the top performers, Honeywell Flour Mill and SCOA Nigeria both gained 10 per cent, closing at N22.00 and N5.39 respectively. SFS Real Estate Investment Trust also climbed by 10 per cent to N226.60, while Industrial & Medical Gases appreciated by 9.96 per cent to N37.00 per share. International Energy Insurance followed closely with a 9.82 per cent rise, ending the session at N1.79.
Conversely, several stocks recorded significant losses. Conoil dropped 10 per cent to N268.30, while Learn Africa fell by 9.98 per cent to N3.88. Other notable laggards included Transcorp Hotels (-9.97%), Julius Berger (-9.94%), and Chellaram (-9.92%). Despite these losses, the market remained buoyant overall, supported by the dominance of gainers.
Trading activity was also robust, with a total turnover of 622.64 million shares valued at N16.12 billion across 17,044 deals. Fidelity Bank led the volume chart with 108.17 million shares worth N2.05 billion. Other actively traded stocks included Legend Internet Plc, UBA, GTCO, and Access Corporation, reflecting widespread investor engagement across sectors.
Source: Vanguard