The Nigerian stock market sustained its upward momentum on Wednesday, recording gains for the fourth consecutive session.
The performance was largely driven by strong price appreciation in Dangote Cement alongside 36 other stocks that closed in positive territory.
The All-Share Index advanced by 0.41 per cent, finishing at 140,365.36 points compared with the previous 139,796.11 points. Similarly, market capitalisation rose by N360 billion to settle at N88.813 trillion, also reflecting a 0.41 per cent increase from N88.453 trillion.
Trading activity remained buoyant, as 768 million shares exchanged hands across 24,837 deals, with a market value of N40.6 billion. Market breadth also closed positive, with 37 stocks gaining against 26 decliners.
FTN Cocoa and CHELLARAM emerged as the top performers, each climbing 10.00 per cent to close at N5.40 and N11.00, respectively. Other strong advancers included Berger Paints, Sunu Assurance, and Livestock Feeds, each gaining over 8 per cent.
On the flip side, May & Baker led the losers, dropping 9.97 per cent to N16.25 from N18.05. UNIONDICON fell by 9.72 per cent, C & I Leasing by 7.69 per cent, and THOMASWYAT by 7.04 per cent.
In terms of volume, FCMB was the most actively traded, with about 288 million shares worth N3 billion exchanged in 559 transactions. Nigerian Breweries also recorded robust activity, trading 50 million shares in 283 deals with a total value of about N3.5 billion.
