Nigerian Stocks Surge for Sixth Day, Add Over ₦1 Trillion in Value
Nigeria’s equity market maintained its upward momentum on Wednesday, marking six consecutive sessions of growth and adding over one trillion naira in market value due to sustained investor interest across all sectors.
The benchmark All-Share Index climbed 1.22%, reaching 121,257.69 points, up from the previous session’s 119,790.82 points. This week’s performance has strengthened investor sentiment, keeping the market on a positive path as total market capitalization expanded 1.57%, rising to ₦76.761 trillion from ₦75.576 trillion previously.
Trading activity involved 861.7 million share units across 22,896 transactions, generating ₦26 billion in total value. Market sentiment remained positive, with 63 companies recording price increases, while only 17 experienced declines.
Leading the gainers were OANDO and Dangote Sugar, both advancing 10.00% to close at ₦68.75 and ₦48.40, respectively, from previous levels of ₦62.50 and ₦44.00. Champion Breweries, L & I Leasing, and CWG also posted strong gains of 9.98%, 9.98%, and 9.95%, respectively.
On the declining side, University Press led the losers, dropping 6.25% to ₦6.00 from Tuesday’s ₦6.40. RT Briscoe and Multiverse also recorded losses of 6.12% and 4.89%, respectively.
Among the most actively traded stocks, Fidelity Bank saw approximately 83 million shares change hands through 655 transactions, worth about ₦1.66 billion. Caverton recorded trades of around 64 million shares in 290 deals valued at roughly ₦320 million, while Zenith Bank traded about 61 million shares across 1,408 transactions, totalling ₦3 billion.
