January 12, (THEWILL) — The Nigerian equities market opened the week on a bullish note, as buying interest in select stocks lifted key indicators.
Market capitalisation rose to ₦104.520 trillion from an opening level of ₦103.775 trillion, reflecting a gain of ₦745 billion.
The All-Share Index (ASI) advanced by 946.61 points, closing at 163,244.69 points, up from 162,298.08 points at the start of the session.
Market breadth was strongly positive, with 50 gainers against 20 losers, indicating broad investor participation across sectors.
Top Gainers
- DEAPCAP led the gainers, rising by 10.00 percent (from ₦3.00 to ₦3.30).
- ETRANZACT advanced by 10.00 percent, (closing at ₦16.50 from ₦15.00).
- MCNICHOLS gained 10.00 percent (to settle at ₦6.05 from ₦5.50).
- RTBRISCOE rose 10.00 percent (from ₦3.60 to ₦3.96).
- REDSTAREX added 10.00 percent, (closing at ₦11.55 from ₦10.50).
Top Losers
- CHAMPION fell 8.51 percent (to ₦15.05 from ₦16.45).
- EUNISELL dropped 8.01 percent (to ₦156.20 from ₦169.80).
- IKEJAHOTEL declined 8.00 percent (from ₦40.00 to ₦36.80).
- GUINEAINS shed 7.30 percent (to close at ₦1.27 from ₦1.37).
- OMATEK lost 3.13 percent, (falling to ₦1.24 from ₦1.28).
Unchanged Stocks
Stocks that closed flat included MTN Nigeria Communications, Dangote Cement, Presco Plc, Seplat Energy, and Julius Berger.
Investor sentiment remained optimistic as the market started the week on a strong note, driven by renewed interest in mid-cap and technology-focused stocks.
Analysts expect selective buying to continue, with investors focusing on fundamentally strong equities amid a stabilizing macroeconomic environment.
Ogochukwu Onwaeze
