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 (NGX: AIRTELAFRI), which saw a 10% rise to ₦3,655.70 per share. Other significant gainers included Oando (NGX: OANDO), Union Dicon Salt (NGX: UNIONDICON), Red Star Express (NGX: REDSTAREX), and CWG (NGX: 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 (NGX: ACCESSCORP) 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.