The Nigerian stock market closed on a strong note yesterday, driven by gains in Guaranty Trust Holding Company Plc (GTCO) and 57 other equities, adding N226.25 billion in value to the market.
GTCO rose 1.7% to close at N85.95 per share, helping lift the Nigerian Exchange Limited All Share Index (NGX ASI) by 358.60 points or 0.30%, ending the day at 121,653.93 points from its opening level of 121,295.33 points.
Similarly, the market capitalisation advanced to N76.758 trillion, up from N76.532 trillion the previous session.
Market breadth was notably positive, with 58 stocks posting gains compared to 21 decliners, reflecting strong investor appetite across sectors.
Top Gainers:
C&I Leasing, Champion Breweries, Omatek Ventures, and Nigerian Exchange all posted the day’s highest gain of 10% each, closing at N6.60, N14.96, N1.10, and N56.10 per share, respectively.
Neimeth International Pharmaceuticals followed closely, rising 9.95% to N9.50, while FTN Cocoa Processors, AXA Mansard Insurance, and Meyer each gained 9.94% to settle at N5.64, N11.06, and N17.70 respectively.
Top Losers:
PZ Cussons Nigeria led the losers’ chart, dropping 10% to close at N26.10. Vitafoam Nigeria shed 9.62% to end at N21.60, while Nigerian Exchange Group declined by 9.17% to N27.25.
Ikeja Hotels lost 7.41% to N11.25, and Eterna dipped 5.26% to close at N27.00 per share.
Trading Activity:
Total trading volume jumped 22.3% to 1.008 billion units, valued at N19.484 billion across 24,770 deals.
Access Holdings led the activity chart with 124.25 million shares worth N2.74 billion. Japaul Gold & Ventures followed with 123.08 million shares valued at N340.92 million, while Mutual Benefits Assurance traded 55.56 million shares worth N77.75 million.
Other notable trades included Universal Insurance (54.60 million shares, N38.27 million) and AIICO Insurance (40.44 million shares, N70.83 million).
Market Outlook:
Analysts at Afrinvest Limited expect the bullish momentum to continue in the next trading session as investors maintain a strong interest in bargain hunting.
