Nigerian Stock Market Gains 0.06% on Dangote Cement Boost

On the previous trading day, the Nigerian stock market sustained a positive trajectory, with the Nigerian Exchange Limited (NGX) All-Share Index (ASI) rising by 135.97 basis points, or 0.06%, to close at 218,249.81 basis points. The overall market capitalization increased by N87 billion, reaching N140.523 trillion.

Despite this positive performance, the market breadth remained negative, with 25 gainers compared to 43 decliners. Notably, Nascon Allied Industries recorded the highest price gain of 10%, closing at N171.60 per share, followed by Union Dicon Salt with a 9.92% increase to N19.95 per share, and Lafarge Africa, which rose by 9.64% to N273.00 per share.

Conversely, Legend Internet led the losers' chart with a decline of 9.92%, closing at N5.63 per share. The total volume of trades decreased by 18.20% to 842.476 million units, valued at N44.862 billion across 61,617 deals.

Access Holdings topped the activity chart with 110.813 million shares valued at N3.552 billion. Cowry Asset Management Limited anticipates that the market will maintain its bullish trend in the upcoming session.