Nigerian Stock Market Surpasses N120 Trillion Mark

On a notable trading day, the Nigerian stock market crossed the historic N120 trillion mark, closing at N122.13 trillion, marking the highest daily gain since 2023 with an investor return of N5.103 trillion. The market experienced a strong rally, particularly in stocks such as Dangote Cement PLC and MTN Nigeria Communications PLC, which appreciated by 10% each.

The NGX All-Share Index (ASI) gained 7,949.36 basis points, or 4.36%, closing at 190,262.44 basis points. Year-to-date, the ASI has improved by 15.1% and 22.3% in market capitalization.

The market breadth was positive, with 54 advancing stocks compared to 28 declining ones. Notable gainers included ABC Transport, Beta Glass, and Ikeja Hotel, each recording a 10% increase.

Conversely, R.T. Brisco led the losers with a 9.99% decline.

Total volume traded was 1.076 billion units, valued at N64.026 billion across 64,821 transactions, with Access Holdings, Oando, and Zenith Bank being the most active stocks.