Nigerian Equities Market Gains N3.17tn, ASI Hits 250,000

The Nigerian equities market experienced significant growth, gaining N3.17 trillion as the All-Share Index (ASI) surpassed the 250,000 mark, closing at 250,485.54 points. This represents a 2.33% increase, contributing to a year-to-date return of 60.97%.

The market capitalization rose from N157.09 trillion to N160.26 trillion, with the total market capitalization reaching N215.89 trillion. The rally was fueled by strong demand for stocks, including RT Brisco, FTN Cocoa Processor, and Livestock Feed, alongside active trading in banking and telecommunications sectors.

Total trading volume increased by 30.82% to 1.51 billion shares, with transaction value rising by 17.23% to N70.10 billion across 95,093 deals. Investor sentiment improved sharply, with a market breadth of 2.76 times, as 56 stocks gained against 21 that declined.

Notable contributors to market turnover included MTN Nigeria, First Holdco, Dangote Cement, Zenith Bank, and GTCO. Analyst David Adonri indicated that the sustained rally reflects improved investor confidence and liquidity conditions.