Nigerian Equities Market Gains N405 Billion This Week

The Nigerian equities market concluded the week with a notable gain of N405 billion on Friday, reflecting sustained upward momentum. The market capitalization increased from N159.153 trillion to N159.558 trillion, marking a 0.25 percent rise.

The All-Share Index also saw an increase of 604.22 points, closing at 246,992.44 compared to 246,388.22 the previous day. This rally has strengthened the year-to-date return to 58.72 percent.

Despite the overall gain, the market breadth was negative, with 31 stocks losing value against 26 gainers. Red Star Express and Haldane McCall topped the losers' chart, each declining by 10 percent.

Conversely, Industrial and Medical Gases, Juli, and University Press recorded significant gains. Market activity surged, with total volume traded increasing by 416.66 percent to 2.24 billion shares, valued at N73.41 billion across 42,709 deals.

Fortis Global Insurance led in trading volume, while Seplat Energy had the highest transaction value.