By Seun Ibiyemi
The Nigerian stock market extended its bullish momentum on Friday, recording a ninth consecutive gain as investors added N3.391 trillion to market value.
Strong buying interest in key equities such as NAHCO Plc, Trans-Nationwide Express Plc, Ecobank Transnational Incorporated, Access Corporation Plc and Daar Communications Plc, alongside 39 other stocks, drove the rally.
Market capitalisation rose from N136.435 trillion to N139.826 trillion, representing a gain of N3.391 trillion or 2.49 per cent.
Similarly, the All-Share Index (ASI) climbed by 5,266.55 points, or 2.49 per cent, to close at 217,167.57, pushing the year-to-date return to 39.56 per cent.
Market breadth remained positive, with 44 gainers compared to 27 losers, reflecting sustained investor confidence.
Among the top performers, NAHCO and Trans-Nationwide Express led the gainers’ chart, each appreciating by 10 per cent to close at N220 and N6.05, respectively.
Ecobank Transnational advanced by 9.97 per cent to N67.30, while Access Corporation rose by 9.93 per cent to N29.90. Daar Communications also gained 9.64 per cent to close at N1.82.
A Lagos-based market analyst attributed the sustained rally to improved investor sentiment and growing expectations of stronger corporate earnings, particularly within the banking and industrial sectors.
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On the losers’ chart, Mecure Industries Plc declined by 9.96 per cent to N60.60. Honeywell Flour Mills Plc fell by 9.52 per cent to N19, while Abbey Mortgage Bank Plc dropped to N8.10.
Also, E-Tranzact International Plc shed 9.27 per cent to N18.60, and Caverton Offshore Support Group Plc fell 9.02 per cent to N5.55.
Trading activity surged significantly, with total volume increasing by 115.08 per cent to 1.26 billion shares valued at N54.35 billion, exchanged in 56,923 deals.
Sterling Financial Holdings Company Plc led the volume chart with 383.85 million shares, accounting for 30.51 per cent of total trades, while Aradel Holdings Plc topped the value chart with transactions worth N9.75 billion, representing 17.94 per cent of the day’s turnover.
