Stock market extends rally, investors gain N1.86trn

The Nigerian stock market extended its rally on Tuesday, adding N1.864 trillion to investors’ wealth amid sustained buying in large- and mid-cap shares. Trading ended with market capitalization up 1.24% to N152.135 trillion, compared with N150.271 trillion in the prior session, while the All-Share Index rose 2,905.05 points, or 1.24%, to close at 237,083.28. The year-to-date return increased to 52.35%, and market breadth finished positive with 54 gainers versus 17 losers. Cadbury Nigeria and Zichis Agro Allied Industries led the gains, each up 10%, ending at N61.60 and N26.62 per share, respectively, while Nigerian Aviation Handling Company rose 9.99% to N147. Trading activity softened during the session, with total volume down to 493.67 million shares valued at N28.02 billion across 49,969 deals. Zenith Bank remained the most actively traded stock for the third consecutive session, accounting for 19.11% of volume and 35.60% of market value traded.