The Nigerian stock market closed on a strong bullish note, adding about N861 billion in market value as renewed buying interest in blue-chip companies pushed the overall market capitalisation above the N141 trillion mark. Investor sentiment remained upbeat, supported by strong demand across key sectors.
The benchmark Nigerian Exchange Limited All-Share Index (NGX ASI) also climbed by 1,336.39 points, or 0.61 per cent, to settle at 219,586.20 points. The positive performance reflected broad-based interest in equities, particularly large-cap stocks that continue to attract institutional and retail investors.
Market breadth ended the session positive, with 31 gainers outpacing 27 decliners. Leading the gainers’ chart were CAP, Trans-Nationwide Express, UACN, Vitafoam Nigeria, and Transcorp Hotels, each recording the maximum 10 per cent price increase. NASCON Allied Industries also advanced strongly, while Sovereign Trust Insurance added 9.52 per cent, showing sustained momentum in select mid-tier stocks.
On the flip side, some stocks came under selling pressure. Neimeth International Pharmaceuticals led the laggards with a 10 per cent decline, followed by Abbey Mortgage Bank and LivingTrust Mortgage Bank, both of which recorded notable losses. Other decliners included Associated Bus Company and Haldane McCall, reflecting mixed sentiment in parts of the market.
Trading activity, however, slowed as total volume fell by 18.85 per cent to 683.68 million units valued at N36.17 billion across 51,694 deals. First Holdco dominated trading volume, followed by United Bank for Africa (UBA) and Access Holdings, while Guaranty Trust Holding Company (GTCO) and Japaul Gold & Ventures also featured prominently in active trading sessions.
source: This day