Nigerian Equity Market Gains N3.2 Trillion Amid Bullish Run

On Thursday, the Nigerian equity market saw investors gain N3.2 trillion as bullish trends dominated trading. The market capitalization increased significantly from N152.728 trillion to N155.994 trillion, indicating robust investor appetite.

The share index advanced from 237,205.59 to 242,277.81, showcasing a positive market breadth with 46 gainers against 40 losers. Major blue-chip companies such as Seplat, Unilever, and UACN appreciated by the maximum daily limit of 10.00 percent, with Seplat closing at N11,495.00, Unilever at N137.50, and UACN at N181.50.

Conversely, the laggards included Alex, which declined by 9.95 percent to close at N9.50, and Royal Exchange, which fell by 9.93 percent. Despite some profit-taking among investors, heavyweight counters like Dangote Cement and Julius Berger remained flat with no price changes.

Overall, investor sentiment remained broadly positive as market participants positioned themselves ahead of upcoming corporate disclosures and anticipated macroeconomic shifts.