The nation’s stock market gained N300bn in four consecutive days of trading.
The market capitalisation of equities, which stood at N10.939tn on January 9, increased to N11.007tn on January 10, and N11.124tn on January 11.
The market capitalisation gained an additional N50bn after trading on Monday to close at N11.174tn, while it further increased by N64bn to close at N11.238tn on Tuesday.
The All-Share Index saw a 0.58 per cent gain as it closed at 30,137.53 basis points.
A total of 300.133 million shares valued at N3.247bn, representing a 126.7 per cent and 199.2 per cent increase in volume and value traded, respectively, exchanged hands in 3,762 deals.
Analysts at Afrinvest Securities Limited said the gains were as a result of the buying interest in Zenith Bank Plc, Dangote Sugar Plc and Stanbic IBTC Holdings Plc.
Diamond Bank Plc (100.7 million units), Guaranty Trust Bank Plc (39.4 million units) and United Bank for Africa Plc (26.2 million units) were the top traded stocks by volume, while GTB (N1.3bn), Zenith Bank (N463m) and Diamond Bank (N209.4m) were the top traded stocks by value.
Performance across sectors was bullish as all indices closed in the green.
The insurance index led gainers, with an increase of 3.5 per cent, boosted by price appreciation in NEM Insurance Plc and AXA Mansard Insurance Plc.
The industrial goods index followed closely with a 3.1 per cent gain on the back of buying interest in Cement Company of Northern Nigeria Plc.
Similarly, the consumer goods and banking indices gained 0.5 per cent and 0.3 per cent, respectively, as a result of bargain hunting in Access Bank Plc, Zenith Bank and Dangote Sugar Refinery Plc.
The oil and gas index inched 0.3 per cent northwards as Oando Plc recorded major gains in the sector.
Investor sentiment strengthened to 1.4x from 1.0x recorded on Monday as 24 stocks advanced relative to 14 laggards.
“Despite the strong sentiment we observed in the previous trading sessions, we expect investors to book profit in subsequent trading sessions,” analysts at Afrinvest said.
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