January 09, (THEWILL) — The Nigerian equities market closed on a strong note on Friday, extending its bullish momentum as sustained buying interest across select stocks lifted key market indicators.
Market capitalisation advanced to ₦103.775 trillion from an opening level of ₦102.822 trillion, reflecting a gain of ₦953 billion. Similarly, the All-Share Index (ASI) rose by 1,491.52 points to close at 162,298.08 points, up from 160,806.56 points at the start of the session.
Market breadth was firmly positive, with 48 gainers against 28 losers, highlighting broad-based investor participation despite pockets of profit-taking.
Top Gainers
IMG led the gainers’ chart, rising by 10.00 percent (from ₦32.00 to ₦35.20).
MCNICHOLS followed with a 10.00 percent gain, (closing at ₦5.50 from ₦5.00).
SCOA appreciated by 10.00 percent, (advancing from ₦8.50 to ₦9.35).
MAYBAKER gained 9.92 percent (to close at ₦28.80, up from ₦26.20).
FTNCOCOA added 9.90 percent, (settling at ₦6.66 from ₦6.06).
Top Losers
ALEX declined by 9.91 percent, (closing at ₦19.10 from ₦21.20).
AUSTINLAZ shed 9.83 percent, (falling from ₦4.58 to ₦4.13).
SOVRENINS dropped 9.63 percent (to ₦3.38 from ₦3.74).
PRESTIGE slipped by 9.57 percent, (closing at ₦1.70 from ₦1.88).
UPDC fell 9.09 percent, (ending the session at ₦5.00 from ₦5.50).
Stocks that closed flat included Dangote Cement, Seplat Energy, Presco Plc, John Holt, DN Tyre and Rubber, and BUA Foods.
Investor sentiment remained upbeat, driven by continued interest in mid-cap and fundamentally sound stocks, while selloffs in some recent gainers reflected tactical profit-taking. Looking ahead, the market is expected to sustain a positive bias, with stock selection and earnings expectations likely to guide near-term trading activities.
Ogochukwu Onwaeze
