Nigerian Stock Market Gains N309bn in a Single Day

The Nigerian Exchange ended the session on a positive note, adding N309 billion in market value as renewed buying lifted major counters.

The All Share Index rose by 489.45 points or 0.35 percent to close at 142,036.23. Market capitalisation advanced to N89.865 trillion.

Gains in medium and large capitalisation names set the tone, with Aradel Holdings, Guinness Nigeria, Dangote Cement, FBN Holdings, and Chellarams among the biggest drivers.

Market breadth was negative despite the index gain, showing a cautious mood. Twenty-six stocks advanced while thirty-two declined. 

Chellarams led the risers with a 9.77 percent jump to N14.60. Austin Laz and Company added 9.67 percent to N2.95. The Initiates Plc rose 8.08 percent to N12.97. Sovereign Trust Insurance climbed 7.37 percent to N3.06, and Aradel Holdings improved 6.97 percent to N583.00.

On the laggard side, Guinea Insurance fell 9.70 percent to N1.49. Cornerstone Insurance shed 8.68 percent to N6.52. Legend Internet declined 7.27 percent to N5.10. Deap Capital Management and Trust lost 7.06 percent to N1.58, while Thomas Wyatt Nigeria eased 6.49 percent to N2.45.

Turnover surged as activity broadened across the tape. Total volume jumped 142.09 percent to 1.005 billion shares, worth N24.655 billion, traded in 23,281 deals. Abbey Mortgage Bank dominated the chart with 401.065 million shares valued at N2.727 billion. 

Fidelity Bank followed with 254.810 million shares worth N5.274 billion. United Bank for Africa traded 23.221 million shares valued at N1.095 billion. 

FBN Holdings posted 22.529 million shares worth N699.630 million, while Access Holdings recorded 17.476 million shares valued at N473.992 million.

The day’s advance, powered by heavyweight stocks and strong volumes, suggests investors remain selective but are finding value across key sectors even as breadth points to ongoing profit taking under the surface.