Nigerian Equity Market Gains N566 Billion in Capitalization

The Nigerian equity market commenced the week on a bullish note, recording a gain of N566 billion in market capitalization, which rose to N156.560 trillion from N155.994 trillion. The Nigerian Exchange (NGX) share index appreciated by 0.36%, increasing by 881.16 basis points to close at 243,158.97 points, up from 242,277.81 points the previous day.

The market rally was primarily driven by gains in companies such as Dangote Sugar, GTCO, and NASCON. A total of 40 companies advanced against 34 that declined, contributing to a year-to-date return of 56.26%.

However, trading volume saw a decline to 1.407 billion shares, representing a 24.79% decrease from the previous day's 1.871 billion shares. The total value of trades also fell by 44.47% to N57.980 billion across 133,071 deals.

Notable gainers included Conhal, FTN Cocoa, and NASCON, with respective increases of 10%, 9.99%, and 9.98%.