Emmanuel OchayiIn a trading session at the NGX, the All-Share Index defied expectations, surging by 3.93% and reaching an unprecedented high of 87,971.10 points.
The bullish momentum was fueled by impressive performances from key equities, spearheaded by Dangote Cement, which recorded a 9.84% gain.
The market landscape exhibited a robust optimism as 75 gainers outshone the nine losers, propelling the overall market capitalization to N48.14 trillion, an increase of N1.82 trillion from the previous day.
Dangote Sugar and FBN Holdings also contributed to the bullish trend with notable gains of 10% and 6.73%, respectively.
Trading activity experienced a boost, with a 32% surge in volume to 1.067 billion units and a 43% appreciation in trading value to N15.77 billion. This heightened activity reflected the investors’ growing confidence in the market.
The top gainers showcased an impressive performance, with Dangote Sugar, NASCON, and NB all closing at a 10% increase. Meanwhile, ROYALEX, MULTIVERSE, and ELLAHLAKES faced losses, closing at -9.18%, -6.59%, and -4.79%, respectively.
Jaiz Bank led the volume charts with a 9.94% increase, trading 150.64 million units, followed by NASCON in terms of value with N2.57 billion.
Noteworthy stocks, including Dangote Cement, Access Bank, and BUA Cement, recorded gains, contributing to a positive trading sentiment.
Despite the overall positive sentiment, certain stocks, such as AIRTELAFRI, GEREGU, TRANSCOHOT, SEPLAT, and BUAFOODS, showed no significant price changes.
The market’s resilience and the robust performance of key players signal a promising outlook as investors continue to show confidence in Nigeria’s stock market.
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