December 23, (THEWILL) — The Nigerian equities market closed on a positive note on Tuesday, extending its upward momentum as buying interest in select stocks lifted key indicators.
Market capitalisation rose to ₦97.771 trillion, from an opening level of ₦97.193 trillion, reflecting a gain of ₦578 billion. Similarly, the All-Share Index (ASI) advanced by 894.93 points, closing at 153,354.14 points, up from 152,459.07 points at the start of the session.
Market breadth closed slightly positive, with 29 gainers against 27 losers, indicating selective investor participation across sectors.
Top Gainers
ALEX led the gainers’ chart, rising by 9.96 percent (from ₦13.55 to ₦14.90).
AUSTINLAZ followed with a 9.81 percent appreciation, (closing at ₦2.91 from ₦2.65).
CUSTODIAN rebounded strongly, gaining 9.69 percent (to close at ₦38.50, up from ₦35.10).
FIRSTHOLDCO advanced by 9.35 percent, (settling at ₦50.30 from ₦46.00),
FTNCOCOA added 8.74 percent, (closing at ₦5.10 from ₦4.69).
Top Losers
ROYALEX declined by 7.22 percent,(closing at ₦1.80 from ₦1.94).
CHAMPION shed 6.57 percent, (ending the session at ₦15.65 from ₦16.75).
NASCON dropped 5.36 percent (to ₦105.05, down from ₦111.00).
SOVRENINS lost 5.28 percent, (closing at ₦3.77 from ₦3.98).
JAPAULGOLD fell by 4.51 percent, (settling at ₦2.33 from ₦2.44).
Stocks that closed flat for the day included MTN Nigeria Communications, Seplat Energy, Okomu Oil Palm, Presco Plc, and John Holt.
Investor sentiment remained cautiously optimistic, driven by renewed interest in mid-cap and financial stocks, alongside bargain-hunting ahead of the year-end. However, the near-even market breadth suggests that profit-taking continues to limit broad-based rallies.
Looking ahead, the market is expected to maintain a selective upward bias, with investors likely to focus on fundamentally sound stocks and positioning ahead of year-end portfolio rebalancing.
Ogochukwu Onwaeze
