April 16, (THEWILL) — The Nigerian equities market sustained its bullish momentum as investors continued to accumulate fundamentally strong stocks, pushing key performance indicators higher at the close of trading.
The market capitalisation opened the session at ₦134.772 trillion and advanced to ₦136.435 trillion, reflecting strong buying interest across several counters. Similarly, the All-Share Index (ASI) climbed from 209,317.41 points at the opening bell to 211,901.02 points at the close, reinforcing the upward trajectory of the market.
Market breadth closed firmly positive with 45 gainers against 21 losers, highlighting the dominance of bullish sentiment during the trading session.
TOP GAINERS FOR THE SESSION
GUINEAINS 10.00 percent (₦1.10 to ₦1.21).
TRANSEXPR 10.00 percent (₦5.00 to ₦5.50).
ARADEL 9.99 percent (₦1,406.90 to ₦1,547.50).
ETI 9.97 percent (₦55.65 to ₦61.20).
DAARCOMM 9.93 percent (₦1.51 to ₦1.66).
TOP LOSERS FOR THE SESSION
IKEJAHOTEL -9.73 percent (₦37.00 to ₦33.40).
WAPIC -8.77 percent (₦2.85 to ₦2.60).
CAP -8.61 percent (₦103.95 to ₦95.00).
INTENEGINS -8.18 percent (₦3.30 to ₦3.03).
MCNICHOLS -5.82 percent (₦6.70 to ₦6.31).
Meanwhile, several blue-chip and bellwether stocks closed flat, including Dangote Cement, Lafarge Africa, Okomu Oil Palm, Julius Berger, Cadbury Nigeria, and Unilever Nigeria Plc, reflecting cautious positioning in some heavyweight counters despite the broader market advance.
Investor sentiment remained distinctly bullish, supported by sustained accumulation in mid-cap and financial stocks as market participants continued to position ahead of earnings releases and dividend expectations. The strong market breadth, reflected in the higher number of gainers relative to losers, further underscores the prevailing confidence in equities.
Looking ahead, analysts expect the positive momentum to persist into the next trading session, supported by bargain hunting and continued portfolio rebalancing by investors. However, intermittent profit-taking may emerge in stocks that have recorded significant gains in recent sessions, potentially moderating the pace of the rally.
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.
