February 06, (THEWILL) — The Nigerian equities market extended its bullish momentum on Friday, recording another strong performance driven by widespread buying interest across several stocks. Market capitalisation rose from ₦109.129 trillion at the opening of the session to ₦110.234 trillion at the close, while the NGX All-Share Index (ASI) advanced from 170,005.36 to 171,727.49, reflecting a solid upward movement in market activity.
Investor sentiment remained firmly positive as market breadth closed strongly in favour of gainers, with 60 advancing stocks sharply outpacing 19 losers. This broad-based rally signalled renewed confidence among investors and continued appetite for equities across different sectors of the market.
Leading the gainers’ chart were the following stocks:
DEAPCAP moved higher by 10.00 percent (₦6.20 to ₦6.82).
NAHCO appreciated by 10.00 percent (₦124.00 to ₦136.40).
OMATEK advanced by 10.00 percent (going up from ₦2.40 to ₦2.64).
ZICHIS gained 10.00 percent (₦6.11 to ₦6.72).
AUSTINLAZ increased by 9.98 percent (₦4.91 to ₦5.40).
On the opposite side of the market, some stocks closed lower as profit-taking activities emerged in select counters. The top laggards included:
TIP saw a sharp decline of -9.74 percent (from ₦21.55 to ₦19.45).
DAARCOMM fell sharply to -7.32 percent (₦2.05 to ₦1.90).
UCAP declined by -7.32 percent (₦19.85 to ₦18.55).
WAPIC lost a total of -5.71 percent (₦3.50 to ₦3.30).
FIRSTHOLDCO dropped by -5.53 percent (₦49.75 to ₦47.00).
Meanwhile, several stocks closed unchanged for the session, including Golden Guinea Brewery, Guinness Nigeria Plc, International Breweries, BUA Foods, and Cadbury Nigeria, suggesting cautious positioning among investors in some major consumer goods counters.
Overall, Friday’s trading session reflected sustained bullish momentum supported by strong market participation and widespread gains across equities. Analysts note that the sharp dominance of gainers over losers points to improving market sentiment and growing confidence in the near-term outlook of the Nigerian capital market. If buying pressure persists, the market may continue to test higher levels in the coming sessions, although intermittent profit-taking could still occur as prices advance.
Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.
