Nigerian Stock Market Soars 1.56%, Hits New High of 108,361.10 Points
The Nigerian equity market ended Tuesday’s trading session on a positive note, with the All-Share Index (ASI) gaining 1.56% to reach 108,361.10 points, up from Monday’s close of 106,698.50 points.
Market capitalization also increased by 1.56%, closing at ₦68.105 trillion compared to the previous session’s ₦67.060 trillion, representing a gain of ₦1.045 trillion.
Trading activity saw 475 million shares exchanged across 17,575 transactions, with a total value of ₦13.9 billion.
Market sentiment was bullish, as 42 stocks posted price gains compared to 25 that recorded declines.
Top performers included Ecobank Transnational Incorporated, Nestlé Nigeria, and Northern Nigeria Flour Mills, each appreciating by the maximum daily limit of 10.00% to close at ₦25.85, ₦1,210.00, and ₦82.50, respectively. Other notable gainers were Beta Glass, which advanced 9.98%; Austin Laz, up 9.94%; and Academy Press, which climbed 9.76%.
On the downside, Guinea Insurance led the laggards with an 8.70% decrease, settling at ₦0.63 from its previous close of ₦0.69. DAAR Communications fell by 6.78%, while VFD Group declined by 6.59%.
In terms of trading volume, Access Holdings dominated with approximately 104 million shares changing hands in 967 deals, valued at ₦2.2 billion.
Guaranty Trust Holding Company (GTCO) followed with 38 million shares traded in 608 transactions worth ₦2.4 billion, while United Bank for Africa (UBA) recorded about 31 million shares in 1,004 deals, totaling approximately ₦1 billion.
