Nigerian Stock Market Gains N87 Billion as Dangote Cement Leads Rally in Equities Trading

The Nigerian stock market recorded a modest but positive performance as investor wealth rose by N87 billion, driven largely by price gains in Dangote Cement Plc and 24 other listed companies. The upbeat session reflected continued investor interest in key blue-chip and mid-cap stocks.

The All-Share Index increased by 135.97 points, or 0.06 per cent, to close at 218,249.81 points, while market capitalisation climbed to N140.523 trillion. The gains were supported by strong performances from major industrial and consumer stocks including Dangote Cement, Lafarge Africa, NASCON Allied Industries, UACN, and Chemical and Allied Products (CAP).

Trading sentiment remained mixed despite the positive close, as market breadth tilted negative with 25 gainers against 43 losers. NASCON Allied Industries led the gainers with a 10 per cent rise, followed closely by Union Dicon Salt and Lafarge Africa, which also posted strong appreciation. On the flip side, stocks such as Legend Internet, Abbey Mortgage Bank, and Stanbic IBTC Holdings recorded notable declines.

Market analysts noted that investor activity is being shaped by expectations of dividend announcements from listed companies, a factor that typically drives accumulation in the equities market. Cowry Assets Management Limited stated that bullish momentum could persist as investors position ahead of full-year corporate earnings.

Overall trading activity slowed, with total volume down 18.2 per cent to 842.48 million shares valued at N44.86 billion across 61,617 deals. Access Holdings dominated trading volume, followed by FCMB Group, Fidelity Bank, Zenith Bank, and United Bank for Africa, reflecting continued interest in the banking sector.

source: The Guardian