Nigerian equities market sees strong gains as investors profit
The Nigerian equities market continued its upward trend, with investors witnessing significant gains in overall market capitalisation. The market’s positive momentum was driven by strong performances from large and medium-cap stocks, boosting investor confidence. Despite the surge in value, there was a slight tilt towards more decliners than gainers among listed companies. Notable companies like BUA Cement, Custodian Investment, and First HoldCo played a key role in the session’s outcome.
TLDR
- Market capitalisation advanced by N1.755tn, closing at N158.812tn, as investor confidence remained strong.
- The All-Share Index appreciated by 2,721.83 points (1.12%) to finish at 246,183.96 points.
- Custodian Investment and NEM Insurance each gained 10%, while BUA Cement rose 9.98%.
- Sunu Assurance led the decliners, dropping 10%, with Tripple Gee & Company and ABC Transport also posting notable losses.
- Trading activity increased, with 851.634 million units exchanged across 56,873 deals, led by First HoldCo and Access Holdings.
