Bullish sentiment persisted on the Nigerian equities market, as gains in key stocks pushed the benchmark index higher by 0.6 per cent.
The Nigerian Exchange Limited All-Share Index rose to 196,621.96 points. As a result, the Month-to-Date return settled at +0.6 per cent, while the Year-to-Date return climbed to +26.4 per cent.
Investor interest was buoyed by strong performances in Aradel Holdings Plc (+9.1%), BUA Foods Plc (+0.9%), Oando Plc (+10.0%), and Lafarge Africa Plc, also known as WAPCO (+1.2%).
Trading activity strengthened during the session. Total volume traded increased by 11.4 per cent to 880.01 million units, valued at N44.51 billion, and exchanged in 86,761 deals.
Sterling Financial Holdings Company Plc (STERLINGNG) emerged as the most traded stock by volume at 56.82 million units. Meanwhile, Aradel led by value, recording transactions worth N8.22 billion.
Sectoral performance was largely positive. The Oil & Gas index gained 4.5 per cent, followed by Insurance (+1.6%), Consumer Goods (+0.9%) and Industrial Goods (+0.2%). The Banking index closed flat.
Market breadth was positive at 1.1x, as 38 stocks recorded gains compared to 35 losers.
UACN Plc and SUNU Assurances Nigeria Plc topped the gainers’ chart with 10.0 per cent appreciation each. On the flip side, Fidson Healthcare Plc and Mecure Industries Plc recorded the steepest declines of the day, shedding 10.0 per cent apiece.
Analysts say sustained buying interest, particularly in oil and gas counters, continues to underpin the market’s positive trajectory.
