Nigerian Equity Market Gains N5.50 Trillion This Week

The Nigerian equity market closed the week on a strong note, with gains amounting to N5.50 trillion. The market capitalization increased by 3.94%, reaching N145.335 trillion, compared to N139.828 trillion two weeks prior.

The benchmark NGX share index advanced to 225,724.33 points, marking a year-to-date return of 45.05%, indicative of sustained investor optimism and a strong risk appetite in the equity space. The market breadth remained positive, with 53 gainers against 46 decliners, suggesting widespread interest across various stocks.

Total trading volume rose by 16.75%, with 3.805 billion shares worth N213.955 billion exchanged across 297,202 deals. The financial services industry led trading activity, contributing 71.99% of the total equity turnover, followed by the consumer goods sector.

Notable stocks included Access Holdings Plc, United Bank for Africa Plc, and First Bank Holdings Plc, which collectively accounted for significant trading volumes and values.