Nigerian Stock Market Hits Record High at 155,645.05 Basis Points

The Nigerian stock market achieved a new high of 155,645.05 basis points, marking a 4.48% increase from the previous week. Market capitalization also rose to N4.23 trillion, with year-to-date returns at 51.22%.

Notable stock appreciations were seen in companies like Aradel Holdings Plc, Dangote Cement Plc, and MTN Nigeria Communications Plc. The market performance was mixed across sectors, with industries like oil and gas, consumer goods, and banking posting gains.

Despite a positive sentiment, market breadth closed slightly negative. Overall, the market saw increased investor activity and a total turnover of 3.695 billion shares worth N129.889 billion.