Nigerian Equities Market extends bullish run as investors gain ₦963bn, driven by sustained interest in major stocks like BUA Foods and Vitafoam

Nigerian Equities Market extended its bullish momentum on Tuesday, with investors pocketing a total gain of ₦963 billion as renewed buying interest in major stocks lifted the overall market performance.

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The market capitalisation rose from ₦95.171 trillion to ₦96.134 trillion, representing a ₦963 billion or 0.01 per cent increase. Similarly, the All-Share Index advanced by 1,516.10 points, closing at 151,456.91 compared with 149,940.81 recorded on Monday.

Strong performances by SCOA Nigeria, Omatek Ventures, Consolidated Hallmark Holdings, BUA Foods, and Vitafoam boosted the Nigerian Equities Market, reinforcing investor confidence in the ongoing rally.

Despite the upbeat trend, market breadth closed slightly negative, with 30 equities declining against 28 gainers.

Livingtrust Mortgage Bank topped the losers’ chart, falling by 9.91 per cent to close at ₦4. Conoil dropped 5.83 per cent to ₦190.70, while Africa Prudential shed 5.69 per cent to ₦14.10

. Sovereign Trust Insurance and NPF Microfinance Bank also recorded declines of 3.95 per cent and 3.75 per cent respectively.

On the positive side, SCOA Nigeria led the gainers’ table, appreciating by 7.74 per cent to ₦7.10. Omatek Ventures followed with a 7.48 per cent rise to ₦1.58, while Consolidated Hallmark Holdings increased by 6.70 per cent to ₦4.78. BUA Foods advanced by 6.54 per cent to ₦692.50, and Vitafoam climbed 5.92 per cent to ₦94 per share.

Trading activity remained vibrant, with 551.92 million shares worth ₦20.54 billion exchanged in 27,518 deals. Fidelity Bank emerged as the most active stock, trading 59.1 million shares valued at ₦1.18 billion.

It was followed by VFD Group, which recorded 39.31 million shares worth ₦424.7 million, while Japaul Gold traded 37.7 million shares valued at ₦94.9 million.

Access Corporation exchanged 37.4 million shares worth ₦950.1 million, and Guaranty Trust Holding Company (GTCO) sold 31.4 million shares valued at ₦2.92 billion.

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The Nigerian Equities Market continues to show resilience, supported by improved investor sentiment and strong performances from blue-chip stocks, hinting at sustained market optimism in the days ahead.