Nigerian Stock Market Gains N315bn with 662m Shares Traded

On September 16, the Nigerian stock market closed positively, with market capitalization rising to N158.7 trillion from N158.4 trillion, marking a gain of approximately N315.9 billion. The NGX All-Share Index (ASI) increased by 0.20%, closing at 244,791.79 points, up from 244,304.51 points the previous day.

A total of 662.35 million shares were traded across 63,167 deals, reflecting a 27.22% increase in trading volume compared to the previous day’s 520.65 million shares, although the number of deals decreased by 12.24% from 71,977. The financial services sector led trading activity, accounting for 422 million shares.

Notable performances included Sterling Financial Holdings with 142.04 million shares, followed by Fidelity Bank with 43.33 million shares. In the insurance sector, AIICO Insurance led with 73.63 million shares traded.

Sovereign Trust Insurance topped the gainers list with a 9.69% increase to N2.15, while IMG saw the largest decline, shedding 9.93% to close at N27.65.