Nigerian Exchange Group Sees 1.65% Gain in ASI

On October 26, the Nigerian equities market maintained its bullish momentum, with the All-Share Index (ASI) rising by 4,068.27 points, from 247,222.27 to 251,290.54, marking a 1.65% increase. This growth reflects renewed investor confidence, as the benchmark index surpassed the 250,000 level.

The equity market capitalization rose by N2.64 trillion, reaching N163.16 trillion from N160.52 trillion. However, trading activity showed mixed results; total traded volume fell by 46.1% to 329.53 million units, while transaction value increased by 9.9% to N25.45 billion.

The deal count rose by 30.1% to 43,700 transactions. Market breadth was negative, with 24 stocks gaining and 30 losing.

Notable gainers included Dangote Cement, which rose by 10.00% to N1,222.10 per share, and Honeywell Flour Mills, which increased by 9.78% to N19.65. Conversely, ABC Transport led the losers, dropping 9.59% to N6.60 per share.

Analysts from United Capital Plc indicated that the market may be sensitive to profit-taking and sector-specific movements in the coming week.