The local equities market continued its upward trajectory in the latest trading session, fueled by significant gains estimated at N1.822 trillion. The All-Share Index (ASI) experienced a robust surge of 3,330.21 points, marking a substantial 3.93 percent increase to reach a closing figure of 87,971.10 points. Concurrently, the market capitalization soared by N1.822 trillion, concluding at N48.139 trillion.
This positive momentum was propelled by notable price appreciations in large and medium-capitalized stocks, including Dangote Cement, BUA Cement, Dangote Sugar Refinery, NASCON Allied Industries, and Julius Berger.
Market breadth reflected a favorable sentiment, with 77 stocks recording gains compared to 10 losers. Leading the gainers were Berger Paints, Dangote Sugar Refinery, Flour Mills of Nigeria, FTN Cocoa processors, Honeywell Flour Mills, Lafarge Africa, NASCON, Nigerian Breweries, Transnational Corporations (Transcorp), Universal Insurance, and Sterling Financial Holdings Company. Each of these stocks surged by 10 percent, reaching closing prices ranging from N15.40 to N7.59 per share.
Unity Bank, Wema Bank, and BUA Cement followed closely with gains of 9.96 percent each, closing at N2.98, N10.60, and N112.65, respectively. Jaiz Bank and Consolidated Hallmark Holdings also showed robust performance, advancing by 9.94 percent each, concluding at N3.65 and N1.77 per share.
On the flip side, Royal Exchange led the losers’ chart with an 8.16 percent decline, closing at 90 kobo per share. Multiverse Mining & Exploration followed with a 6.59 percent drop, ending at N17.00, while Ellah Lakes experienced a 4.79 percent decrease, closing at N3.38 per share. Oando and UACN also recorded losses, declining by 3.60 percent and 3.13 percent, respectively.
Trading activity witnessed a 34.8 percent increase in total volume, reaching 1.09 billion units valued at N16.05 billion, exchanged in 14,835 deals. Jaiz Bank led the trading activity with 150.639 million shares worth N508.443 million, followed by AIICO Insurance with 99.057 million shares valued at N129.127 million. FCMB Group traded 67.597 million shares worth N814.174 million, while Sterling Financial Holdings Company and Transcorp traded 55.838 million and 48.921 million shares, respectively, contributing to the overall vibrant trading session.
