October 22, (THEWILL) — The Nigerian equities market closed on a strong note on Wednesday, October 22, gaining 1.50 percent amid renewed investor confidence in select consumer goods, industrial, and real estate stocks.
The All-Share Index rose from 151,456.91 points to 153,736.25 points, while market capitalisation increased from N96.13 trillion to N97.59 trillion, reflecting broad-based buying interest across key sectors.
Out of the stocks traded, 32 recorded gains compared to 30 losers, underscoring a positive market breadth and selective investor positioning.
Top Gainers
The day’s top gainers included:
- ASO Savings: up 10.00%, from N0.50 to N0.55
- Skyarn: up 9.99%, from N90.05 to N99.05
- LOTUSHAL15: up 9.76%, from N82.00 to N90.00
- UPDC REIT: up 8.16%, from N7.35 to N7.95
- NASCON: up 6.80%, from N103.00 to N110.00
Top Losers
Notable decliners were:
- FGSUK203386: down 5.99%, from N100.00 to N94.00
- TIP: down 5.73%, from N13.79 to N13.00
- Legend Int’l: down 5.69%, from N6.15 to N5.80
- Royal Exchange: down 4.76%, from N2.31 to N2.20
- Champion Breweries: down 4.49%, from N15.60 to N14.90
Unchanged Stocks
Dunlop, Custodian, Enamelware, Golden Breweries, and Unity Bank closed flat at their previous prices.
Market Drivers
Wednesday’s rally was driven by:
Sustained buying interest in consumer goods and industrial stocks.
Gains in real estate and manufacturing sectors, prompting selective portfolio rebalancing.
Positive liquidity inflows into mid- and large-cap stocks.
Anticipation of upcoming corporate earnings, which spurred positioning in resilient equities.
Investor Sentiment and Outlook
Market sentiment remained upbeat, with investors maintaining confidence in sector-specific growth opportunities.
Analysts expect the bullish trend to persist in the short term, though mild profit-taking in top gainers could trigger slight corrections.
Overall, trading is projected to remain selective, with consumer goods, real estate, and defensive stocks continuing to attract investor attention.
Ogochukwu Onwaeze
