Nigerian Stock Market Gains N861bn on Blue-Chip Interest

On the previous trading day, the Nigerian stock market advanced by N861 billion, fueled by strong buy interest in blue-chip companies, which pushed the market capitalization above N141 trillion. The Nigerian Exchange All-Share Index (NGX ASI) increased by 1,336.39 basis points, representing a 0.61 percent rise, closing at 219,586.20 basis points.

The market breadth remained positive, with 31 gainers surpassing 27 decliners. Notable gainers included Transcorp Hotels, UACN, and Vitafoam Nigeria, each recording a 10 percent increase, closing at N110.00, N7.92, and N143.00 per share, respectively.

Other significant gainers were Nascon Allied Industries, which rose by 9.85 percent to close at N188.50, and Sovereign Trust Insurance, which increased by 9.52 percent to close at N2.07 per share. On the losing side, Neimeth International Pharmaceuticals led with a 10 percent decline, closing at N9.00 per share.

The total volume of trade decreased by 18.85 percent, amounting to 683.684 million units valued at N36.167 billion across 51,694 transactions.