Nigerian Equities Gain N1.086 Trillion in Bullish Rally

On Tuesday, the Nigerian domestic equities market returned to a bullish run, gaining N1.086 trillion in market capitalization, which increased from N127.750 trillion to N128.836 trillion. The NGX share index appreciated by 1691.85 basis points, closing at 200,705.85 points, up from 199,014.02 points the previous day.

This market rally was primarily driven by gains in shares of Airtel Africa, GTCO Plc, and Access Holdings, among others. A total of 36 companies advanced against 23 decliners, contributing to a year-to-date return of 28.98 percent.

Notably, four companies recorded a 10 percent gain by the end of the trading day, including Conhal Plc, Legend Internet, Airtel Africa, and John Holt. Conversely, NPf Microfinance Bank was the top loser, declining by 6.29 percent.

Trading volume increased to 354.165 million shares, representing a 41.72 percent rise, with a total transaction value of N57.569 billion across 81,992 deals.