Nigerian Stock Market Gains N649bn Driven by BUA Cement

The Nigerian stock market experienced a notable increase of N649 billion, bringing the total market capitalization to N126.399 trillion. The Nigerian Exchange Limited's All-Share Index (NGX ASI) rose by 1,010.22 points, or 0.52%, closing at 196,908.76 basis points.

This growth was primarily influenced by medium and large-capitalization stocks, including BUA Cement, Transcorp Hotels, and Fidson Healthcare. A total of 132 stocks were traded, with 30 advancing and 30 declining, while 62 remained unchanged, indicating a mixed market breadth.

FTN Cocoa Processors recorded the highest price gain of 10%, closing at N6.27 per share, followed by Fidson Healthcare with a 9.97% increase, closing at N105.35. Conversely, Eterna and Omatek Ventures led the losers' chart, each declining by 10% and closing at N42.30 and N2.52, respectively.

The total volume of trade decreased by 25.84%, amounting to 549.781 million units valued at N44.736 billion across 55,465 deals. Forti Global Insurance was the most active stock, trading 32.182 million shares valued at N34.775 million.