Nigerian Equity Market Gains N3.393 Trillion in Growth

On Friday, the Nigerian equity market maintained its bullish trajectory, gaining N3.393 trillion, driven by strong performances from heavyweight stocks across key sectors. The market capitalization rose by 2.49% to N139.828 trillion from N136.435 trillion, as reported on Thursday.

The NGX share index increased by 5266.55 basis points, closing at 217167.57 points, up from 211901.02 points the previous day. This positive performance was attributed to gains from companies such as MTN Nigeria, Dangote Cement, and Zenith Bank, among others, indicating renewed investor confidence and continued portfolio repositioning.

The market breadth showed 44 gainers against 26 decliners, bringing the year-to-date return to 39.56%. Notable gainers included NAHCO, which closed at N6.05, and Access Holdings at N29.90.

In contrast, Mercur topped the loser chart, dropping 9.96% to close at N60.60. Trading volume increased to 543.608 million shares, representing a 76.96% increase in investor activity, with total transactions valued at N54.353 billion.