Nigerian Investors Gain N1.27 Trillion Amid Naira Depreciation, Stock Market Rises 1.18%

Nigerian investors saw significant gains amounting to N1.27 trillion amidst a depreciation of the naira. The All-Share Index (ASI) rose by 1.18% to close at 170,005.36 points, reflecting renewed buying interest across key sectors.

Seplat emerged as the top gainer with a 10% increase, followed by Julius Berger, Vitafoam, Dangote Sugar, and MTN Nigeria. However, some counters closed in negative territory, with Deap Capital recording the steepest decline of 9.62%.

Market activity remained positive, with 712.98 million shares traded valued at N22.26 billion across 46,104 deals. Notably, the oil and gas sector posted the strongest gains, while the insurance sector experienced a slight decline.

The market breadth remained bullish, with 55 advancing stocks outpacing 19 decliners. Additionally, BUA Food reported a strong earnings performance, with a 91% surge in profit after tax to N508 billion, boosting investor interest in consumer goods stocks.