Nigerian Stocks Surge as All Share Index Jumps 1.57% to 111,606.22
Tuesday’s trading session saw Nigerian equities continue their upward momentum, with the benchmark All-Share Index climbing 1.57% to settle at 111,606.22 points, up from Monday’s closing level of 109,884.92 points.
Market capitalisation mirrored this positive performance, expanding by 1.57% to reach N70.377 trillion, compared to the prior session’s N69.292 trillion, representing an increase of N1.085 trillion in investor wealth.
Trading activity remained robust, with investors exchanging 409.6 million share units across 15,992 transactions, generating a total turnover of N9.9 billion.
Market sentiment leaned decidedly positive, with 36 stocks recording price gains while 21 counters experienced declines, highlighting the broad-based nature of the rally.
Airtel Africa emerged as the session’s standout performer, surging 10.00% to N2,372.50 from its previous closing price of N2,156.90.
Other notable winners included OMATEK, which climbed 9.23%, while Cornerstone Insurance and NAHCO posted gains of 8.63% and 8.39%, respectively.
On the losing side, MCNICHOLS topped the laggards’ list, dropping 9.80% to N2.21 from N2.45.
CWG and Champion Breweries also faced selling pressure, declining 9.50% and 7.38%, respectively.
CUSTODIAN dominated trading volumes, with approximately 38 million shares changing hands across 97 transactions, worth N752 million.
Fidelity Bank followed with roughly 37 million shares traded in 729 deals, valued at N676 million, while Zenith Bank recorded about 27 million shares in 768 transactions, worth N1.3 billion.
