January 07, (THEWILL) — The Nigerian equities market closed higher on Wednesday, extending its upward trend as gains in select heavyweight stocks lifted key market indicators, despite a mixed market breadth.
Market capitalisation increased to ₦102.684 trillion from an opening level of ₦102.275 trillion, reflecting a gain of ₦409 billion. Similarly, the All-Share Index (ASI) rose by 640.68 points to close at 160,591.76 points, up from 159,951.08 points at the start of the session.
Market breadth closed negative, with 35 gainers against 37 losers, indicating continued profit-taking alongside sustained buying interest in high-cap and energy-related stocks.
Top Gainers
Okomu Oil Palm Plc led the gainers’ chart, rising by 10.00 percent (from ₦1,095.00 to ₦1,204.50).
Union Dicon Salt Plc followed with a 10.00 percent appreciation, (closing at ₦8.80 from ₦8.00).
Seplat Energy Plc advanced by 10.00 percent (to ₦6,171.00, up from ₦5,610.00).
NCR Nigeria Plc gained 9.97 percent, (closing at ₦79.95 from ₦72.70).
McNichols Plc added 9.93 percent (to settle at ₦4.76 from ₦4.33).
Top Losers
Cadbury Nigeria Plc declined by 10.00 percent, (closing at ₦63.00 from ₦70.00).
Austin Laz & Company Plc shed 9.93 percent (to ₦5.08 from ₦5.64).
Alex Plc dropped by 9.91 percent, (ending the session at ₦19.55 from ₦21.70).
HMCall Plc fell by 9.85 percent (to ₦4.21 from ₦4.67).
FTN Cocoa Processors Plc lost 9.62 percent, (closing at ₦6.01 from ₦6.65).
Stocks that closed flat for the day included Dangote Cement Plc, Presco Plc, Custodian Investment Plc, Julius Berger Nigeria Plc, and Golden Guinea Breweries Plc.
Investor sentiment remained cautiously positive, supported by strong rallies in energy and agro-allied stocks, which helped push the ASI above the 160,000-point mark. However, the near-even split between gainers and losers suggests persistent profit-taking in recent high-performing equities.
Looking ahead, the market is expected to sustain a selective upward bias, with investors likely to rotate across fundamentally sound stocks while monitoring earnings prospects and broader macroeconomic signals.
Ogochukwu Onwaeze
