Nigeria’s stock market extended its winning streak as heavy buying in Presco Plc and 34 other stocks pushed market capitalisation up by ₦332.5 billion in a single session.
The NGX All-Share Index rose 0.31% to close at 165,901.57 points, lifting month-to-date and year-to-date returns to 0.3% and 6.6% respectively, while total market value climbed to ₦106.5 trillion.
Sector performance was mixed. Banking stocks led the charge with a 1.3% gain, followed by industrial goods at 0.7%. Insurance stocks slipped 1.3%, while consumer goods and oil & gas each fell 0.2%.
Market breadth remained positive, with 35 gainers edging out 34 losers. Austin Laz, IMG, Union Dicon Salt and Zichis Agro-Allied surged the maximum 10% each, while R.T. Briscoe and Morison Industries followed closely with near 10% gains.
On the downside, Cutix and Omatek Ventures dropped 10% apiece, with SUNU Assurance, DEAP Capital and Chams Holdings also posting steep losses.
Trading activity eased slightly, with volumes dipping 3.5% to 736.4 million shares worth ₦24.7 billion across 46,026 deals. GTCO dominated turnover with ₦6.52 billion in trades, followed by Chams Holdings, Custodian Investment, Universal Insurance and Zenith Bank.
Analysts at Imperial Asset Managers said the stronger daily gain signals growing momentum in the rally, noting heavy institutional buying in GTCO and Zenith Bank. They added that investors are likely to remain focused on dividend-paying stocks and Tier-1 banks, even as volatility persists in insurance and tech names.
