Posting a ninth consecutive gain, the Nigerian stock market extended its bullish run on Friday, as investors added N3.391 trillion in value.
Meanwhile, strong buying interest in NAHCO, Trans-Nationwide Express, Ecobank Transnational, Access Corporation, Daar Communications, and 39 other equities drove the rally.
From N136.435 trillion, market capitalisation rose to N139.826 trillion, a gain of N3.391 trillion or 2.49 per cent.
The All-Share Index rose by 5,266.55 points, or 2.49 per cent, to close at 217,167.57.
While market breadth stayed positive with 44 gainers against 27 losers, year-to-date return rose to 39.56 per cent.
On the gainers’ side, NAHCO and Trans-Nationwide Express led, rising 10 per cent each to N220 and N6.05, respectively.
Ecobank Transnational gained 9.97 per cent to N67.30, Access Corporation rose 9.93 per cent to N29.90, while Daar Communications advanced 9.64 per cent to N1.82.
A Lagos-based market analyst said sustained buying momentum reflected improved investor sentiment and anticipation of stronger corporate earnings across the banking and industrial sectors.
Mecure led losers, falling 9.96 per cent to N60.60, followed by Honeywell Flour, down 9.52 per cent to N19, and Abbey Mortgage Bank, down 9.52 per cent to N8.10.
Dropping 9.27 per cent to N18.60, E-Tranzact joined Caverton Offshore Support Group, which fell 9.02 per cent to N5.55.
In terms of activity, total traded volume surged 115.08 per cent to 1.26 billion shares worth N54.35 billion. Additionally, Sterling Bank led the volume chart with 383.85 million shares, accounting for 30.51 per cent of total trades.
Aradel topped the value chart at N9.75 billion, representing 17.94 per cent of the day’s turnover.
