NGX Sustains Bull Run, Adds N2.09trn In 13-Day Rally

The Nigerian equities market closed on a strong bullish note, with investors gaining N2.093 trillion as sustained buying interest extended the rally to 13 consecutive sessions.
The benchmark All-Share Index (ASI) advanced by 3,250.76 points, or 1.48 per cent, to settle at 222,837.68 points. Similarly, market capitalisation rose by N2.093 trillion to close at N143.477 trillion.
The upbeat performance was largely driven by gains in medium and large-cap stocks, including BUA Foods, Dangote Cement, NASCON Allied Industries, UACN, and Unilever Nigeria.
Looking ahead, Cowry Assets Management Limited said the market is likely to maintain its bullish momentum as investors position ahead of anticipated full-year dividend declarations, which typically spur accumulation.
Despite the overall positive close, market breadth was negative, with 34 decliners outweighing 31 gainers. UACN and Unilever Nigeria led the gainers’ chart with a 10 per cent increase each, closing at N133.10 and N121.00 respectively. Trans-Nationwide Express rose by 9.97 per cent to N8.71 per share.
Tantalizers gained 9.80 per cent to close at N3.81, while Dangote Sugar Refinery appreciated by 9.78 per cent to N73.50 per share.
On the losers’ table, McNichols declined by 9.93 per cent to close at N6.44 per share. Multiverse Mining & Exploration dropped by 9.85 per cent to N23.35, while Wapic Insurance shed 9.26 per cent to close at N2.45 per share.
Abbey Mortgage Bank fell by 9.24 per cent to N5.40, and Japaul Gold & Ventures declined by 5.94 per cent to close at N3.01 per share.
Trading activity weakened slightly, with total volume down by 2.30 per cent to 667.937 million units valued at N38.124 billion across 53,062 deals. Access Holdings led the activity chart with 39.514 million shares worth N1.250 billion. United Bank for Africa followed with 37.539 million shares valued at N2.021 billion, while Zenith Bank traded 36.341 million shares worth N4.836 billion.
Fidelity Bank recorded 32.127 million shares valued at N700.759 million, while Guaranty Trust Holding Company accounted for 27.614 million shares worth N3.634 billion.