Stock Market Gains N1.64 Trillion, Extending Positive Momentum

Kayode Tokede The Nigerian stock market continued its upward trend for a second straight session, driven by renewed buying interest in companies such as Airtel Africa and Guaranty Trust Holding Company (GTCO), which helped increase market capitalization by N1.64 trillion.

The Nigerian Exchange Limited All‑Share Index (NGX ASI) rose 2,524 basis points, a gain of 1.06 %, and closed at 240,743.19 basis points.

Market breadth remained positive, as 33 stocks advanced against 23 that declined. Guinea Insurance and Airtel Africa each gained 10 %, closing at N1.10 and N4,358.80 respectively, while International Energy Insurance rose 9.89 % to close at N6.11 per share.

Tripple Gee & Company increased 9.82 % to close at N3.69, and Cornerstone Insurance climbed 9.76 % to close at N6.75 per share.

Conversely, Red Star Express was the largest loser, falling 9.96 % to close at N24.85 per share. Premier Paints dropped 9.93 % to close at N30.40, and Trans‑Nationwide Express fell 9.82 % to close at N4.04 per share.

Royal Exchange slipped 9.38 % to close at N1.45, and Abbey Mortgage Bank fell 9.29 % to close at N8.30 per share.

Total volume traded rose 15.74 % to 564.909 billion units, worth N39.345 billion, across 49,230 transactions. Fidelity Bank led the activity chart with 59.372 million shares, valued at N1.077