Nigerian Stock Market Gains N719bn Amid MTN Demand

The Nigerian stock market experienced a rebound, with market capitalization advancing by N719 billion, closing at N155.849 trillion. This increase was primarily fueled by a 1.23% gain in MTN Nigeria's shares, which closed at N820.00.

The Nigerian Exchange's All-Share Index (NGX ASI) gained 1,121.33 basis points, or 0.46%, closing at 242,870.44 basis points. Investor sentiment remained positive, with 24 gainers outpacing 22 losers.

Learn Africa recorded the highest price gain of 10%, closing at N9.90 per share, followed closely by First Holdco with a gain of 9.98%, closing at N72.15. Other notable gainers included Thomas Wyatt Nigeria, R.T.

Briscoe, and Transcorp Hotels. On the losing side, Intern Energy Insurance led with a decline of 9.86%, followed by Legend Internet and Forti Global Insurance.

Total trading volume increased by 21.25%, amounting to 634.775 million units valued at N53.336 billion across 42,494 deals. Analysts expect the market's recovery to be sustained, supported by strategic investor portfolio rebalancing.