Nigerian Stocks Rally for Third Day, ASI Hits 0.52%
The Nigerian equities market continued its positive momentum on Wednesday, marking the third straight session of gains.
The All-Share Index (ASI) advanced by 0.52%, closing at 105,283.67 points, up from Tuesday’s close of 104,739.61 points.
Total market value increased substantially, with market capitalisation rising by N339 billion to reach N66.156 trillion, compared to the previous day’s N65.817 trillion, representing a 0.52% appreciation.
Trading activity showed robust participation as investors exchanged 744.8 million shares across 11,226 transactions with a total value of N18 billion.
Market sentiment remained positive with 34 companies recording price increases, outpacing the 17 stocks that experienced declines.
Among the top performers, ABC Transport led the gainers’ chart with a 9.86% increase, as its share price rose to N1.56 from N1.42. Other notable gainers included VFDGROUP, which appreciated by 9.62%, followed by LEARNAFRICA with a 9.54% gain, and Regency Alliance, which advanced by 9.43%.
On the downside, TRIPPLEG experienced the most significant price drop, declining by 10% to close at N1.98 from its previous value of N2.20. Additional major decliners were MRS, which fell by 9.95%, and ABBEYBUILDING, which decreased by 9.94%.
In terms of trading volume, Fidelity Bank dominated the activity chart with approximately 389 million shares changing hands in 614 deals, valued at N7.75 billion. GTCO followed with about 47 million shares traded in 529 transactions worth N2.86 billion, while ACCESSCORP recorded around 31 million shares exchanged in 906 deals, amounting to N705 million.
