Nigerian Stock Market Extends Strong Performance, 10 Companies Top Gainers List

The Nigerian Stock Market continued its strong performance on Tuesday, August 13, with 10 companies topping the list of gainers. The NGX Index ASI and market capitalization appreciated, driven by sustained buying interest, particularly in the insurance sector.

Notable advances were seen in stocks like Ellah Lakes Plc, Lafarge Plc, and WAPCO. The ASI added basis points to close at a higher level, with market capitalization settling at trillion.

Trading activity saw a mixed trend, with total volume falling but total value increasing. Lasaco Assurance Plc led in terms of total trade volume, while Holding Company Plc GTCO led in total traded value.

Overall market breadth closed positive with 49 gainers and 29 losers. Sectoral performance was largely negative, with three out of five major indices declining.

The dollar exchange rate also saw fluctuations, falling to N5 in the official market and in the black market. Traders in the parallel market shared the new exchange.