The All-Share Index (ASI) breaks 100,000 points to set a new record despite the growing economic uncertainty.
The ASI’s ascent reflects a resurgence of investor confidence following the listing of Transcorp Power Plc earlier in the week.
The Nigerian Exchange gained for a fourth consecutive day with investors collectively pocketing N420 billion.
The ASI, a key indicator of market performance, rose by 0.75 percent to reach 100,335.30 points.
Driving this positive momentum were consumer goods stocks with robust fundamentals, which continued to attract strong investor interest.
MTN Nigeria and Dangote Sugar emerged as frontrunners on the gainers’ chart, each surging by 10 percent to close at N201.30 and N50.60, respectively.
Transcorp Power maintained its upward trajectory for the fourth successive day, posting a 9.99 percent gain to close at N351.30.
However, market sentiments remained somewhat subdued as 26 equities recorded gains while 34 experienced losses.
FTN Cocoa and Guinness were among the decliners, both shedding 10 percent to close at N1.53 and N45.90, respectively.
Similarly, Transcorp witnessed a decline of 9.95 percent, closing at N17.10.
Despite the mixed trading trends, the level of market activity surged, with the total traded volume reaching 554.72 million units, reflecting a 33.19 percent increase.
Conversely, the total traded value experienced a marginal decline of 9.11 percent to N17.73 billion.
Investor interest remained buoyant in consumer goods and industrial goods stocks, leading to positive closures in these sectors.
The achievement of the 100,000-point mark by the ASI signifies a significant milestone for the Nigerian stock market, underscoring growing investor confidence and renewed optimism in the country’s economic prospects.
