Nigerian Equities Market Gains N3.734 Trillion in a Week

The Nigerian equities market experienced significant growth last week, gaining N3.734 trillion as investor buying interest surged across various sectors. The benchmark All-Share Index (ASI) increased by 2.36% week-on-week, closing at 246,992.44 points, up from 241,298.47 points the previous week.

Market capitalization rose to approximately N159.559 trillion from N155.825 trillion. The year-to-date return improved to 58.72%.

This positive performance was driven by enhanced investor sentiment following the confirmation of the FTSE Russell reclassification and sustained buying pressure. The market recorded 55 gainers against 35 losers, indicating a positive market breadth.

Trading activity strengthened, with a 28.65% increase in the number of deals, a 73.91% rise in trading volume, and a 70.69% increase in transaction value week-on-week. Investors exchanged 4.36 billion shares valued at N210.63 billion across 223,718 trades.

The Financial Services Industry led in trading volume, while the Oil & Gas sector saw a 9.10% increase, driven by strong buying interest in Oando, Seplat, and Aradel.