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Market capitalisation increased by N209 billion to N161.260 trillion.
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ASI advanced 321.05 points to close at 248,363.55.
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22 gainers and 31 decliners were recorded as market breadth remained negative.
October 9, (THEWILL) – The Nigerian Exchange Limited (NGX) closed Friday’s trading session higher, with market capitalisation rising by N209 billion, while the benchmark All-Share Index (ASI) gained 321.05 points despite more stocks recording losses than gains.
Market capitalisation increased from N161.051 trillion at the opening to N161.260 trillion at the close, while the ASI advanced from 248,042.50 to 248,363.55 points.
The market recorded 22 gainers against 31 decliners, indicating that the benchmark’s advance was not supported by broad-based buying across listed equities.
Top Gainers
- REGALINS led the gainers, rising 10.00 percent (from N0.70 to N0.77).
- LIVESTOCK followed with a 9.58 percent increase, (moving from N12.00 to N13.15).
- GUINEAINS gained 9.41 percent (to close at N0.93 from N0.85).
- CAP advanced 8.50 percent (from N100.00 to N108.50).
- UPDC completed the top five gainers, rising 7.69 percent (from N3.90 to N4.20).
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Top Decliners
- REDSTAREX recorded the steepest decline, falling 9.76 percent (from N14.85 to N13.40).
- FIDELITYBK followed, shedding 8.70 percent (to close at N21.00 from N23.00).
- DAARCOMM declined 8.00 percent (from N1.50 to N1.38).
- WAPIC fell 7.26 percent (from N2.48 to N2.30).
- OMATEK rounded out the top five decliners, losing 6.94 percent (to close at N1.34 from N1.44).
Market Outlook
Friday’s advance suggests that buying interest in selected equities was sufficient to lift the benchmark despite continued weakness across a larger number of stocks. However, the negative market breadth indicates that the recovery remained selective.
Investors may continue to monitor corporate earnings, valuations and stock-specific developments for direction in the coming sessions. A sustained recovery would require stronger participation across the market rather than gains concentrated in a limited number of equities.
Dangote Cement, Seplat Energy, John Holt Plc, Custodian Investment and Julius Berger were among the equities that closed flat during the session.
Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.
