January 16, (THEWILL) — The Nigerian equities market closed slightly higher on Friday, supported by modest buying interest that lifted key indicators.
Market capitalisation opened at N106.323 trillion and edged up to N106.353 trillion at the close, while the NGX All-Share Index (ASI) advanced from 166,057.29 points to 166,129.50 points.
Market breadth was positive, with 43 gainers outperforming 26 losers, reflecting a generally upbeat trading session despite selloffs in some mid-cap stocks.
The top gainers include:
• REDSTAREX, which advanced by 10.00 percent (from N12.00 to N13.20).
• NCR rose by 9.97 percent (from N116.90 to N128.55).
• SCOA climbed 9.96 percent (from N13.55 to N14.90).
• OMATEK gained 9.94 percent (from N1.61 to N1.77).
• DEAPCAP appreciated by 9.85 percent (from N4.06 to N4.46).
The top losers include:
• MCNICHOLS, which declined by 8.81 percent (from N6.58 to N6.00).
• LEGENDINT shed 7.56 percent (from N5.95 to N5.50).
• CORNERSTONE Insurance fell by 6.48 percent from (N6.79 to N6.35).
• CILEASING dipped 6.29 percent (from N8.75 to N8.20).
• AUSTINLAZ dropped 5.78 percent (from N3.98 to N3.75).
Stocks that closed unchanged include MTN Nigeria Communications, Seplat Energy, Okomu Oil Palm, Presco Plc, and Julius Berger.
Investor sentiment was cautiously optimistic, as bargain hunting in select counters outweighed profit-taking pressures.
In the next trading session, market performance is expected to remain mixed, with investors likely to maintain selective positioning amid ongoing portfolio adjustments and anticipation of fresh market catalysts.
Ogochukwu Onwaeze
