Bulls Persist As Stock Market Gains N100bn In 4th Straight Session

The Nigerian equities market extended its bullish run to a fourth consecutive trading session on renewed buying interest in key large-cap stocks, with investors recording a combined gain of N100 billion.

The All-Share Index rose by 154.59 points, representing a 0.06 per cent increase, to close at 244,852.21 points. In the same vein, market capitalisation advanced by N100 billion to settle at N157.043 trillion.

Market performance was largely driven by price appreciation in blue-chip and mid-cap stocks, including Vitafoam Nigeria Plc, MTN Nigeria Communications Plc, Nigerian Aviation Handling Company (NAHCO), UAC of Nigeria Plc and Oando Plc, which supported the positive market close.

Despite the overall gain, market breadth closed negative, with decliners outnumbering gainers, reflecting selective profit-taking across sectors. A total of 36 stocks declined compared to 30 gainers.

Top gainers were led by Livestock Feeds Plc, which rose by 10 per cent to close at N9.35 per share. DEAP Capital Management & Trust Plc gained 9.86 per cent to close at N5.35, while Abbey Mortgage Bank Plc advanced by 9.78 per cent to N12.35 per share.

Vitafoam Nigeria Plc climbed 8.25 per cent to N210.00, while FTN Cocoa Processors Plc rose by 6.54 per cent to N9.45 per share.

On the losers’ chart, Neimeth International Pharmaceuticals Plc led with a 10 per cent decline to N9.00 per share. International Energy Insurance Plc followed with a 9.92 per cent drop to N7.90, while John Holt Plc fell by 9.73 per cent to N13.45 per share.

Other notable decliners included The Initiates Plc, which shed 8.42 per cent to N30.45, and eTranzact International Plc, which lost 8.06 per cent to N16.55 per share.

Trading activity slowed slightly, with total volume down 3.47 per cent to 1.226 billion units valued at N38.844 billion across 54,193 deals.

Sterling Financial Holdings Company Plc led the activity chart with 555.33 million shares worth N4.433 billion. FCMB Group Plc followed with 121.13 million shares valued at N1.448 billion, while Access Holdings Plc recorded 48.15 million shares worth N1.211 billion.

Jaiz Bank Plc and Fidelity Bank Plc also featured among the most actively traded stocks, as investors continued portfolio repositioning ahead of future market catalysts.

Cowry Assets Management Limited noted that the market is expected to maintain its bullish tone in the next session, as investors continue to rebalance portfolios in response to ongoing price movements.