Nigerian Equities Extend Rally for Fourth Consecutive Session
Nigeria’s equity market maintained its upward trajectory, recording gains for the fourth consecutive trading day in what continues to be a robust bullish trend.
The benchmark All-Share Index (ASI) climbed by 1.63%, reaching 114,616.75 points, compared to Wednesday’s closing level of 112,781.73 points.
Total market capitalization expanded by the same 1.63% to N72.275 trillion, up from N71.118 trillion in the previous session, representing an increase of N1.157 trillion.
Trading activity encompassed 1.46 billion share units across 16,410 transactions, generating a total turnover of N33 billion.
Market sentiment remained positive, with advancing stocks outnumbering declining ones, as 40 equities posted gains while 22 recorded losses.
NGX Group and Champion Breweries topped the gainers’ list, each recording the maximum daily gain of 10.00%, to settle at N39.60 and N7.70 per share, respectively.
Other notable performers included MTN Nigeria, Oando, Morison Industries, Cornerstone Insurance, and RT Briscoe, all of which advanced by more than 9.00%.
On the losing side, Northern Nigeria Flour Mills experienced the steepest decline, dropping 9.97% from N138.90 to close at N125.05 per share.
ABC Transport, Legend Internet, and Livestock Feeds were among other significant losers, falling by 9.77%, 9.49%, and 7.82%, respectively.
In terms of volume, Fidelity Bank dominated trading with approximately 830 million shares changing hands across 453 transactions, worth N15.97 billion.
Zenith Bank followed with around 63 million shares traded in 729 deals, generating N3 billion in value, while GTCO recorded about 31 million shares traded across 568 transactions, worth approximately N2 billion.
