October 22, (THEWILL) — The Nigerian equities market closed on a positive note on Tuesday, October 21, as renewed investor interest in consumer goods and industrial stocks lifted overall performance.
The All-Share Index advanced from 149,940.81 points to 151,456.91 points, while market capitalisation increased from N95.17tn to N96.13tn, reflecting growing investor confidence.
Market data showed 28 gainers and 30 losers, indicating a mixed but broadly bullish trading session.
Top Gainers
The top-performing stocks for the day were:
SCOA: rose from N6.59 to N7.10 (+7.74%)
OMATEK: increased from N1.47 to N1.58 (+7.48%)
Conhall Plc: climbed from N4.48 to N4.78 (+6.70%)
BUA Foods: jumped from N650.00 to N692.50 (+6.54%)
Vitafoam: appreciated from N88.75 to N94.00 (+5.92%)
Top Losers
The laggards included:
LivingTrust: dropped from N4.44 to N4.00 (-9.91%)
Conoil: declined from N202.50 to N190.70 (-5.83%)
Afriprud: fell from N14.95 to N14.10 (-5.69%)
Sovrenins: dipped from N3.80 to N3.65 (-3.95%)
NPFMCRFBK: decreased from N3.20 to N3.08 (-3.75%)
Unchanged Stocks
Some major stocks, including MTN Nigeria, Seplat Energy, Okomu Oil, Custodian Investment, and Presco, closed flat.
Market Drivers
Analysts attributed the day’s gains to renewed buying interest in consumer and industrial goods, improved liquidity from institutional investors, and portfolio rebalancing by fund managers.
The rally was further supported by positive sectoral performance and selective profit-taking in mid- and large-cap stocks.
Outlook
Investor sentiment remained cautiously optimistic as participants monitored corporate earnings and macroeconomic developments. Market analysts expect the uptrend to continue in the short term, though intermittent profit-taking may trigger mild corrections.
Overall, trading is projected to remain selective, with investors focusing on fundamentally strong and defensive stocks.
Ogochukwu Onwaeze
