By JOY ADARA, Abuja –
Nigerian stock market has recorded a significant gain of ₦152 billion, driven by increased investor interest in key stocks.
The market’s bullish trend has extended the previous week’s four-day rally, with market capitalization rising to ₦83.393 trillion.
The market capitalization opened at ₦83.241 trillion and added ₦152 billion, representing a 0.18% increase. The All-Share Index also rose by 241.11 points, or 0.18%, to close at 131,826.77.
Some of the stocks that contributed to the market’s gain include Cutix, International Energy Insurance, and Caverton Offshore Support.
These stocks saw significant price increases, with Cutix rising by 10% to ₦4.07 per share and International Energy Insurance advancing by 10% to ₦2.20 per share.
On the other hand, some of the stocks that declined include Meyer, McNicholas, and Thomas Wyatt Nigeria. Meyer lost 10% to close at ₦18.90 per share, while McNicholas dropped by 9.95% to finish at ₦3.44 per share.
The market saw a total of 706.04 million shares traded in 30,750 transactions, worth ₦21.56 billion. Access Corporation led the activity chart with 61.73 million shares traded, valued at ₦1.64 billion.
The bullish trend in the Nigerian stock market is expected to continue, driven by increased investor interest in key stocks. However, market analysts caution that the market’s performance may be affected by various economic factors.
