Nigerian Equities Market Gains N437 Billion Amid Bullish Trend

The Nigerian equities market sustained its bullish run, gaining N437 billion as the market capitalization of listed equities increased by 0.28% to N157.587 trillion from N157.150 trillion the previous day. The All Share Index appreciated by 674.61 basis points, rising to 243,052.74 points from 242,378.13 points.

This positive performance was bolstered by gains in small and mid-cap stocks, including NGX group, AccessCorp, Fidelity, Zenith, Omatek, and Chams. The market breadth was favorable, with 30 advancers compared to 18 decliners, raising the year-to-date return to 56.19%.

However, the volume of trades declined by 846.110 million, a 60.48% decrease, with investors trading 552.890 million shares valued at N25.790 billion, down by 4.97%. Abbey Building Society and UPDC REIT led the gainers with a 10% increase, closing at N7.15 and N13.75 per unit, respectively.

Conversely, JohnHolt topped the losers' chart, dropping by 10% to N9.00 per unit.