Nigerian
stock market has recorded a significant gain of N1.077 trillion in a
bullish week, driven by increased investor demand for banking stocks.
The market capitalization rose by 1.37% to close at
N79.803 trillion, while the All-Share Index (ASI) increased by 1,702.79 points
or 1.37% to settle at 126,149.59.
Some of the top gainers include Guinness Nigeria,
which surged by 10% to close at N96.80, Cadbury Nigeria, which gained 10% to
finish at N60.50 per share, and NEM Insurance, which rose by 10% to settle at
N22.00. Other notable gainers include Consolidated Hallmark Holdings and Red
Star Express.
Market Activity
The market witnessed a total of 1.39 billion shares
traded across 33,399 transactions, worth N30.55 billion.
Access Corporation led the activity chart with 172.92
million shares worth N4.16 billion, followed by Ellah Lakes and Ja Paul Gold.
Bullish Trend Continues
The bullish trend in the market is expected to
continue, driven by increased investor confidence and demand for quality
stocks.
Investors are advised to take advantage of the
market’s upward trend to maximize their returns.
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