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 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, Zichi Agro Allied Industries, RT Briscoe Nigeria, and Morison Industries.

On the losing side, Cutix, Omatek Ventures, 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 (GTCo) and Zenith Bank were among the top active stocks. Analysts from Imperi Asset Management Limited noted a daily growth increase, suggesting a strengthening rally in the market.