Nigerian Equities Gain N849 Billion in Bullish Run

On Friday, domestic equities in Nigeria closed positively, recording a gain of N849 billion, bringing the total market capitalization to N157.056 trillion, up from N156.207 trillion the previous day. The NGX share index appreciated by 1,316.52 basis points, closing at 243,462.13 points compared to 242,145.61 points the day before.

The market's positive performance was supported by gains from various companies, including Zenith Bank, FirstHoldCo, Fidelity Bank, UBA, Access Holdings, MTN Nigeria, and Nigerian Breweries. The market breadth was positive, with 33 advancers and 17 decliners, resulting in a year-to-date return of 56.45 percent.

FirstHoldCo led the gainers' table with a 9.97 percent increase, closing at N95.95 per unit, followed closely by HMCall with a 9.94 percent gain. Conversely, Red Star Express topped the losers' chart, dropping 9.50 percent to close at N20.00 per unit.

Trading volume reached 187.30 million shares, representing a 37.58 percent increase in investor activity.