ABC Transport Plc extended its rally for a third consecutive trading session on Tuesday as sustained buying interest pushed the company’s share price another 9.82 percent higher to N6.15.
The road transportation company’s shares gained N0.55 during Tuesday’s session, rising from a previous closing price of N5.60 to N6.15.
The latest increase extended a rally that started on Friday, September 25, when ABC Transport jumped 9.68 percent from N4.65 to N5.10.
The momentum continued on Monday, September 28, with the stock appreciating another 9.80 percent from N5.10 to N5.60 before Tuesday’s 9.82 percent advance.
The three-session rally means ABC Transport’s share price has climbed from N4.65 to N6.15, representing an increase of N1.50 per share or approximately 32.3 percent over the period.
The sequence of gains — N4.65 to N5.10, N5.60 and N6.15 — shows sustained demand for the stock across the three trading sessions.
Tuesday’s advance also placed ABC Transport among the five biggest gainers on the Nigerian Exchange.
NPF Microfinance Bank and LivingTrust Mortgage Bank led the gainers with 10 percent increases each, while Wapic Insurance appreciated 9.95 percent and VFD Group gained 9.84 percent.
ABC Transport followed with its 9.82 percent increase to N6.15.
The rally has also pushed the stock considerably above the N4.40 level recorded on September 23 and N4.65 on September 24.
At Tuesday’s closing price of N6.15, ABC Transport was approximately 39.8 percent above its September 23 closing price of N4.40.
The sustained advance comes despite a weaker broader market on Tuesday, when the NGX All-Share Index declined 0.29 percent to 251,913.20 points and equity market capitalisation fell to N163.53 trillion.
ABC Transport’s ability to extend its advance during the broader market decline underscores the stock-specific buying activity that has characterised its latest three-session rally.