Nigerian Stock Market Gains N1.64 Trillion in Two Days

The Nigerian stock market appreciated by N1.64 trillion, extending its positive momentum for the second consecutive session. The Nigerian Exchange Limited's All-Share Index (NGX ASI) gained 2,524.00 basis points, or 1.06%, closing at 240,743.19 basis points.

Market breadth was positive, with 33 advancing stocks compared to 23 declining ones. Airtel Africa led the gainers with a 10% increase, closing at N1, 10, while Guinea Insurance followed with a 9.89% rise, closing at N6.11 per share.

Tripple Gee Company and Cornerstone Insurance also saw significant gains of 9.82% and 9.76%, respectively. Conversely, Red Star Express led the losers with a 9.96% decline, closing at N24.85 per share.

The total volume of trade surged by 15.74%, amounting to 564.909 billion units valued at N39.345 billion across 49,230 transactions. Fidelity Bank topped the activity chart with 59.372 million shares valued at N1.077 billion.