NGX: Stocks extend bullish run, hain N374bn

The Nigerian stock market extended its bullish run on Wednesday, gaining N374 billion to record its 10th consecutive positive session.

The sustained buying interest was driven by Eterna, Thomas Wyatt, Critical Minerals Financing Corp, Haldane McCall, Omatek Ventures and 38 other stocks.

The Nigerian Exchange Ltd. (NGX) market capitalisation rose to N163.056 trillion from N162.682 trillion recorded on Tuesday.

This represented a gain of N374 billion, equivalent to a 0.23 per cent increase in the market’s capitalisation.

Similarly, the All-Share Index (ASI) advanced by 576.36 points, representing a 0.23 per cent increase.

The ASI closed at 251,191.02, compared with 250,614.66 recorded at the previous trading session.

The market’s year-to-date return consequently improved to 61.42 per cent, reflecting sustained positive sentiment among investors.

Market breadth also closed positive, recording 43 gainers against 20 losers during the trading session.

Trading activity strengthened significantly, with total volume rising by 89.97 per cent to 1.59 billion shares.

The shares were traded in 49,836 deals, with the transactions valued at N45.82 billion during the session.

Fortis Global Insurance dominated trading by volume, with 860.31 million shares exchanged, representing 54.09 per cent of total market volume.

Guaranty Trust Holding recorded the highest transaction value, with deals worth N11.85 billion, accounting for 25.87 per cent of total value traded.

Eterna led the gainers’ table, appreciating by 10 per cent to close at N38.50 per share.

Thomas Wyatt followed, gaining 9.88 per cent to settle at N2.78, while Critical Minerals Financing Corp rose 9.76 per cent.

Critical Minerals Financing Corp closed at N2.70 per share, extending the positive performance among actively demanded equities.

Haldane McCall appreciated by 9.70 per cent, closing at N3.28, while Omatek Ventures gained 9.63 per cent.

Omatek Ventures ended the session at N1.48 per share, joining the leading stocks that supported the market’s upward movement.

On the losing side, Caverton Offshore Support Group led decliners, shedding 9.09 per cent to close at N4.00 per share.

University Press followed with a 9 per cent decline, finishing at N4.55, while WAPIC fell by 6.30 per cent.

WAPIC closed at N2.23 per share, while Veritas Kapital Assurance declined by 5.45 per cent to N1.04.

United Capital also lost 5 per cent, settling at N17.10 per share at the close of trading.