January 14, (THEWILL) — The Nigerian equity market sustained its bullish momentum on Wednesday, January 14, as the market capitalisation opened at N106.182 trillion and closed higher at N106.780 trillion.
Similarly, the NGX All-Share Index (ASI) advanced from 165,837.33 points to 166,771 points, reflecting continued buying interest across select counters.
The market recorded a total of 47 gainers and 28 losers, underscoring a positive market breadth for the session.
Top gainers include:
• ACADEMY advanced by 10.00 percent (from N7.50 to N8.25).
• NCR gained 9.98 percent, rising (from N96.65 to N106.30).
• TRIPPLEG appreciated by 9.95 percent (from N4.42 to N4.86).
• TANTALIZER grew by 9.93 percent, (moving from N2.72 to N2.99).
• DEAPCAP added 9.92 percent, (closing at N3.99 from N3.63).
Top losers for the day include:
• MAYBAKER declined by 9.79 percent, (falling from N31.65 to N28.55).
• WAPIC shed 9.79 percent, (closing at N3.31 from N3.55).
• LIVESTOCK dropped by 6.67 percent (from N7.50 to N7.00).
• PZ slipped 6.52 percent, (moving from N58.30 to N54.50).
• ETERNA lost 6.30 percent, (closing at N34.20 from N36.50).
Stocks that closed flat include MTN Nigeria, Dangote Cement, Okomu Oil Palm, Presco Plc, and Julius Berger.
Market breadth was positive, as the number of gainers significantly outpaced losers, reflecting broad-based buying interest across the market.
Investor sentiment remained upbeat, supported by continued bargain hunting and rotation into mid- and small-cap stocks.
The market is expected to maintain its positive tone in the next trading session, although profit-taking may emerge in stocks that have recorded consecutive gains.
Investors are likely to remain selective, tracking earnings expectations and broader macroeconomic signals.
Ogochukwu Onwaeze
