Nigerian Stock Market Hits Record N100 Trillion Market Cap on Strong Early-Year Buying

The Nigerian stock market has reached a significant milestone as its market capitalization surpassed N100 trillion due to robust early-year buying. The Nigerian Exchange Group reported a market capitalization of N101.81 trillion in dollar terms, with gains driven by increased investor interest in stocks like Bua Cement, Guaranty Trust Holdings, and United Bank for Africa.

The market indices showed positive movements, with the All-Share Index gaining 1.74% in the latest trading session. This achievement reflects growing confidence in Nigeria's capital market and signals renewed investor trust at the beginning of the year, according to Temi Popoola, the Group Managing Director and CEO of the Nigerian Exchange Group.