Nigerian Equities Market Gains as Capitalization Hits N96.13tn

The Nigerian equities market closed positively on October 22, with the market capitalization rising to N96.13tn. Investor interest in consumer goods and industrial stocks led to the overall performance improvement, with the share index advancing to 151,456.91 points.

Top-performing stocks included SCOA, Omatek, Conoil, BUA Food, and Vitafoam, while laggards included LivingTrust, Conoil, and Afriprud. Major stocks like MTN Nigeria and Seplat Energy closed flat.

Analysts expect the uptrend to continue in the short term, with intermittent profit-taking likely. Investor sentiment remains cautious but optimistic.