Nigerian Equities Rise 0.57% as Investor Confidence Grows

The Nigerian equities market opened the week on a bullish note, recording a 0.57% increase, with the share index gaining 1,412.65 points to close at 251,125.02 points. The overall market capitalization rose by ₦906 billion, reaching ₦160.983 trillion.

Year-to-date returns increased by 3.7% and 61.4% respectively, driven by gains in medium and large-cap stocks, notably Airtel Africa Plc, which saw a 10% rise to ₦3,655.70 per share. Other significant gainers included Oando, Union Dicon Salt, Red Star Express, and CWG.

The market outlook remains positive, with Cowry Asset Management Limited expecting sustained bullish trends due to renewed investor confidence. However, the total volume of trade decreased by 30.2% to 497.09 million units, valued at ₦31.62 billion across 74,129 transactions.

Access Holdings topped the activity chart with 61.291 million shares valued at ₦1.525 billion, while McNichol led the losers with a 10% decline to ₦7.20 per share.