Investors gain N963bn as Nigerian stocks extend bullish run

By Seun Ibiyemi 

Investors in the Nigerian equities market recorded a gain of N963 billion at the close of trading on Tuesday, buoyed by renewed buying interest in major stocks such as Scoa Nigeria, Omatek Ventures, and Consolidated Hallmark Plc.

At the end of the trading session, the All-Share Index (ASI) climbed to 151,456.91 points from 149,940.81 points recorded on Monday, reflecting improved market sentiment and sustained positive momentum.

Similarly, the equity capitalisation of the Nigerian Exchange (NGX) rose to N96.1 trillion, compared to N95.1 trillion posted in the previous session.

Despite the impressive gain, market breadth remained negative, with 30 stocks advancing, 33 declining, and 83 remaining unchanged across 27,518 deals. 

A total of 551.9 million shares valued at N20.5 billion were traded.

Among the top gainers, Scoa Nigeria Plc, Omatek Ventures Plc, and Consolidated Hallmark Plc appreciated by 7.74 per cent, 7.48 per cent, and 6.70 per cent respectively, closing at N7.10, N1.58, and N4.78 per share.

Conversely, LivingTrust Mortgage Bank, Conoil Plc, and Africa Prudential Plc led the decliners’ chart with losses of 9.91 per cent, 5.83 per cent, and 5.69 per cent, closing at N4.00, N190.70, and N14.10 per share.

On the activity chart, Fidelity Bank Plc topped the volume index with 59 million shares traded in 596 deals, followed by VFD Group with 39 million shares in 177 deals, while Japaul Gold Ventures Plc recorded 37 million shares in 201 deals.

On the value index, Aradel Power Holding Plc led with stocks worth N2.9 billion exchanged in 1,125 deals, trailed by Dangote Cement Plc, which traded equities valued at N2 billion in 1,300 deals, while Aradel Power Holding Plc also appeared prominently with N1.6 billion worth of shares in 553 deals.