January 06, (THEWILL) — The Nigerian equities market sustained its bullish momentum on Tuesday, closing higher as strong buying interest across mid-cap and financial stocks drove broad-based gains, despite pockets of profit-taking in select large-cap counters.
Market capitalisation rose to ₦102.275 trillion, from an opening level of ₦101.806 trillion, reflecting an increase of ₦469 billion. Similarly, the All-Share Index (ASI) advanced by 732.86 points, closing at 159,951.08 points, up from 159,218.22 points at the start of the session.
Market breadth closed firmly positive, with 65 gainers against 21 losers, underscoring strong investor appetite and sustained risk-on sentiment in the market.
Top Gainers
MEYER led the gainers’ chart, surging by 10.00 percent (from ₦13.00 to ₦14.30).
JAIZBANK followed with a 10.00 percent appreciation, (closing at ₦5.28 from ₦4.80).
ABCTRANS gained 9.98 percent, (advancing from ₦4.51 to ₦4.96).
AUSTINLAZ rose by 9.94 percent, (closing at ₦5.64 from ₦5.13).
MULTIVERSE also added 9.94 percent, (settling at ₦17.70 from ₦16.10).
Top Losers
ALEX led the losers, shedding 9.96 percent (to close at ₦21.70, down from ₦24.10).
LEARNAFRCA declined by 9.16 percent, (ending the session at ₦5.95 from ₦6.55).
OANDO dropped 7.69 percent, (closing at ₦40.80 from ₦44.20).
UBA lost 6.22 percent, (settling at ₦43.00 from ₦45.85).
ACCESSCORP fell by 6.00 percent, (closing at ₦23.50 from ₦25.00).
Stocks that closed flat for the day included Julius Berger, Okomu Oil Palm, Seplat Energy, DN Tyre & Rubber, and Nestlé Nigeria Plc.
Investor sentiment remained strongly positive, supported by aggressive accumulation in small- and mid-cap stocks and continued optimism around earnings prospects. While profit-taking was evident in some banking and energy stocks, the wide gap between gainers and losers suggests the market’s upward momentum remains intact in the near term.
Ogochukwu Onwaeze
