Nigerian Equities Market Gains N5.115 Trillion in Rally

The Nigerian domestic equities market experienced a significant gain of N5.115 trillion, reflecting a positive trajectory driven by a rally in heavyweight stocks. The market capitalization increased to N122.142 trillion from N117.027 trillion, marking a 4.37% rise.

The NGX share index appreciated by 7,968.49 points, closing at 190,281.57 points. Key contributors to this market rally included stocks such as Aradel PLC (NGX: ARADEL), WAPCO, MTN Nigeria, Beta Glass (NGX: BETAGLAS), UBA (NGX: UBA), Dangote Cement (NGX: DANGCEM), Dangote Sugar (NGX: DANGSUGAR), Zenith Bank (NGX: ZENITHBANK), Oando PLC (NGX: OANDO), GTCO PLC (NGX: GTCO), Nestle Nigeria PLC (NGX: NESTLE), and Access Holdings (NGX: ACCESSCORP).

Trading volume reached 136.631 million shares, representing a 14.77% increase, with a total of 1.062 billion units traded against 925.369 million the previous day. The value of transactions rose by 20.82% to N62.99 billion across 64,237 deals.

Notable gainers included Jaiz Bank (NGX: JAIZBANK) and ABC Transport (NGX: ABCTRANS), both recording a 10% increase. Conversely, RT Brisco led the losers with a 9.99% decline.