Investors gain N1.86 trillion as stock market extends rally
Trading on the Nigerian stock market extended its bullish rally on Tuesday, leading to a N1.864 trillion gain for investors.
The positive performance was driven by sustained buying interest in large and mid-cap stocks, including Zichis Agro Allied Industries, Cadbury, Nigerian Aviation Handling Company (NAHCO), Ikeja Hotel, and Daar Communications, among 49 others.
Market capitalisation rose by 1.24 per cent, or N1.864 trillion, to close at N152.135 trillion, up from N150.271 trillion at the previous close.
Similarly, the All-Share Index advanced by 2,905.05 points, or 1.24 per cent, to close at 237,083.28, compared with 234,178.23 recorded in the previous session.
Consequently, the year-to-date return increased to 52.35 per cent, while market breadth closed positive with 54 gainers against 17 losers.
Cadbury Nigeria and Zichis Agro Allied Industries led the gainers’ chart by 10 per cent each, ending the session at N61.60 and N26.62 per share.
Also, Nigerian Aviation Handling Company trailed by 9.99 per cent, closing at N147, Daar Communications soared by 9.94 per cent, finishing at N1.99, while Ikeja Hotel rose by 9.90 per cent, settling at N47.20 per share.
On the other hand, Critical Minerals Financing Corporation, Trans-Nationwide Express and Fortis Global Insurance led the losers’ chart by 10 per cent each, closing at N3.33, N2.70 and N2.61 per share, respectively.
Similarly, Ecobank Transnational Incorporated lost by 9.98 per cent, ending the session at N85.70, and Mecure Industries declined by 9.96 per cent, finishing at N85.75 per share.
However, market activity weakened during the session, with total trading volume declining to 493.67 million shares, valued at N28.02 billion across 49,969 deals.
Zenith Bank maintained its position as the most actively traded stock by both volume and value for the third consecutive session, recording 94.29 million shares traded.
This represented 19.11 per cent of the day’s total volume, while transactions worth N9.91 billion accounted for 35.60 per cent of the total market value traded.
(NAN)
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