Nigerian Stock Market Capitalisation Surpasses N159 Trillion

The Nigerian stock market experienced a positive trend, with market capitalisation exceeding N159 trillion, closing at N159.119 trillion after a N307 billion increase. The Nigerian Exchange Limited All-Share Index (NGX ASI) gained 475.60 basis points, or 0.19%, finishing at 246,659.56 basis points.

Month-to-Date and Year-to-Date returns improved to +7.5% and +58.5%, respectively. Positive sector performance was noted, particularly in Insurance and Consumer Goods, while Industrial Goods, Banking, and Oil & Gas indices remained flat.

Notable stock price increases included Thomas Wyatt Nigeria, which rose by 9.73% to N3.72, and Ikeja Hotel, which gained 9.53% to N46.55. Conversely, MeCure Industries led the losers with a 9.95% decline to N76.95.

The total volume traded increased by 11.4% to 932.45 million units, valued at N49.28 billion across 50,059 deals. Access Holdings led trading activity with 336.615 million shares worth N8.650 billion.

Cowry Assets Management Limited projected continued positive momentum in the market, tempered by potential profit-taking.