The Nigerian equities market, on Wednesday, surpassed the 121,000 mark, with the market capitalisation adding N1.2 trillion in a single trading day to close at N76.76 trillion.
The All-Share Index rose by 1.49 per cent, closing at 121,742.62 points, reflecting strong investor confidence. The year-to-date (YtD) return also climbed higher to 17.81 per cent. Month-to-date, the market has risen by 8.52 per cent, while week-to-date (WtD), the index is up by 2.64 per cent.
This bullish sentiment was largely driven by price appreciation in bellwether stocks such as Oando Plc and Dangote Sugar, which both gained 10.0 per cent to close at N48.40 and N68.75 per share, respectively. Other top gainers included Champion and CILEASING, which gained 9.98 per cent each to close at N10.91 and N5.18 per share, while CWG rose by 9.95 per cent to close at N11.60 per share.
The equities market witnessed significant trading activity, with Fidelity Bank leading by volume at 82.98 million units, followed by Caverton with 64.18 million units, and Zenith Bank with 60.62 million units.
Despite the rally, some stocks recorded losses. University Press declined by 6.25 per cent to close at N6.00 per share, while Briscoe dropped by 12.2 per cent to N2.30 per share. Other losers included Multiverse and Meyer, which fell by 4.89 per cent and 4.69 per cent to close at N8.75 and N9.15 per share, respectively.
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