ABC Transport Extends Rally With 9.8% Gain to N5.60

ABC Transport Plc extended its rally on the Nigerian Exchange (NGX) on Monday gaining 9.80 percent to N5.60 after recording another strong advance in the previous trading session.

The transport company’s share price increased by N0.50 from Friday’s closing price of N5.10, making it the third-highest percentage gainer during Monday’s trading session.

The latest increase extended a rally that began on Friday, when ABC Transport appreciated 9.68 percent from N4.65 to N5.10.

With Monday’s advance to N5.60, the stock has gained N0.95 per share across the two trading sessions, representing an increase of approximately 20.4 percent from its N4.65 starting point.

The back-to-back gains have pushed ABC Transport comfortably above the N5 mark with the stock recording increases close to the NGX’s 10 percent daily price limit in both sessions.

On Friday, ABC Transport was among the five strongest-performing equities after gaining 9.68 percent, alongside Zichis, Critical Minerals Financing Corporation, RT Briscoe and Royal Exchange.

Buying interest continued into Monday, when ABC Transport again ranked among the session’s leading gainers.

University Press Plc led Monday’s gainers with a 9.89 percent increase from N4.55 to N5, while Critical Minerals Financing Corporation advanced 9.82 percent from N3.26 to N3.58.

ABC Transport followed with its 9.80 percent gain to N5.60, while Eterna appreciated 9.62 percent to N42.75 and Sovereign Trust Insurance rose 9.17 percent to N2.62.

The broader equities market also closed higher on Monday with the NGX All-Share Index rising 0.18 percent to 252,566.84 points.

Equity market capitalisation increased by approximately N299.36 billion to N163.95 trillion, while investors traded 1.014 billion shares valued at N39.02 billion across 61,517 transactions.

ABC Transport’s latest advance means the company’s share price has moved from N4.65 to N5.60 in two consecutive sessions, delivering a cumulative gain of approximately 20.4 percent.