Nigerian Stock Market Gains N332.5bn Boosted by Presco Plc and Others

The Nigerian stock market witnessed a positive momentum with increased buying interest in Presco Plc (NGX: PRESCO) and 34 other companies, leading to a gain of N332.5 billion in market capitalization, closing at N106.495 trillion. The NGX All-Share Index (ASI) rose by 0.31% to close at 165,901.57 basis points.

Sector performances were mixed, with the banking index gaining 1.3%, the industrial goods index advancing by 0.7%, while the insurance index depreciated by 1.3%. Notable gainers included Austin Laz Company, Union Dicon Salt (NGX: UNIONDICON), Zichi Agro Allied Industries, RT Briscoe Nigeria, and Morison Industries (NGX: MORISON).

On the losing side, Cutix (NGX: CUTIX), Omatek Ventures (NGX: OMATEK), Sunu Assur, Deap Capital Management, and Cham Holdings Company recorded declines. Total volume traded decreased by 3.45% to 736.438 million units valued at N24.665 billion.

Guaranty Trust Holding Company (NGX: GTCO) (GTCo) and Zenith Bank (NGX: ZENITHBANK) were among the top active stocks. Analysts from Imperi Asset Management Limited noted a daily growth increase, suggesting a strengthening rally in the market.