The bullish trend in trading on the Nigerian Exchange persisted for the seventh consecutive day, propelling the market capitalization to a new milestone of N58.53 trillion.
The All-Share Index rose by 1.45 percent, closing at 103,524.44 points. This achievement mirrors a previous peak reached in February before a market correction ensued due to sell pressures amid heightened yields in the bond market.
The sustained bullish movement precedes the release of the February Consumer Price Index later this week, which could potentially influence decisions at the Central Bank of Nigeria’s upcoming Monetary Policy Committee meeting.
Key players in driving the market included Transcorp, Access Holdings, and Guaranty Trust Holding Company Plc, echoing a similar trend observed in Monday’s trading session.
Of the 35 gainers, United Bank for Africa led the pack with a 10 percent increase, closing at N25.30. MTN Nigeria followed closely with a 9.98 percent rise to N243.50, while Julius Berger saw a gain of 9.71 percent, ending the session at N61.
However, some stocks experienced declines, with Tantalizer dropping by 7.89 percent to N0.35. NASCON Allied Industries, which has witnessed shareholders offloading its shares in recent days, declined by 6.77 percent to N53.70. Morison Industries Plc also registered a loss of 6.62 percent, closing at N1.41, leading the list of 11 decliners.
Overall, investors traded 565.79 million units of shares valued at N14.23 billion in 11,519 deals.
