Nigerian Stocks Surge as All-Share Index Jumps 1.57% to New High
The Nigerian equity market maintained its upward momentum on Tuesday, with the benchmark All Share Index recording significant gains.
The index climbed 1.57% to settle at 111,606.22 points, representing an increase from the prior session’s close of 109,884.92 points.
Market capitalisation followed suit, expanding by 1.57% to reach N70.377 trillion compared to the previous day’s N69.292 trillion, translating to a value addition of N1.085 trillion for investors.
Trading volume remained robust with 409.6 million share units changing hands across 15,992 transactions, generating a total turnover of N9.9 billion.
The session demonstrated positive market sentiment, with advancing stocks outnumbering declining ones. A total of 36 companies recorded price gains while 21 experienced losses, indicating healthy market breadth.
Airtel Africa emerged as the day’s standout performer, surging 10.00% to reach N2,372.50 from its previous closing price of N2,156.90.
Other notable gainers included:
– OMATEK: +9.23%
– Cornerstone Insurance: +8.63%
– NAHCO: +8.39%
MCNICHOLS led the losers’ chart, dropping 9.80% to close at N2.21 from N2.45 in the previous session.
Additional decliners comprised:
– CWG: -9.50%
– Champion Breweries: -7.38%
Several blue-chip stocks dominated trading activity:
Custodian recorded the highest volume with approximately 38 million shares traded across 97 transactions, worth N752 million.
Fidelity Bank followed with about 37 million shares exchanging hands in 729 deals, valued at N676 million.
Zenith Bank rounded out the top three most active stocks with roughly 27 million shares traded through 768 transactions, generating N1.3 billion in value.
