Nigerian Stock Market Gains N3.2 Trillion on Dangote Surge

The Nigerian stock market opened the week on a strong note, gaining N3.2 trillion, primarily due to an 8.08% increase in Dangote Cement Plc's shares. The Nigerian Exchange Group All-Share Index (NGX ASI) rose by 4,937.89 basis points, or 2.15%, closing at 234,178.23 basis points.

Year-to-date, the market has returned 2.1% with a market capitalization of N150.271 trillion. Sector performances included a 4.9% gain in the industrial sector, 4.2% in oil and gas, 3.1% in banking, 2.7% in insurance, and 0.6% in consumer goods.

Investor sentiment was notably positive, with 54 stocks advancing compared to 11 declining. Wema Bank emerged as the highest price gainer at 10%, closing at N60.50, while Nahco and Vitafoam Nigeria were among the top losers, each declining by 10%.

Total trading volume increased by 18.40% to 538.639 million units, valued at N38.701 billion across 64,065 transactions, with Zenith Bank leading in activity.