Nigerian Market Gains N228bn as 38 Stocks Rise on September 21

On September 21, the Nigerian equities market experienced a positive close, with the benchmark Nigerian Exchange All-Share Index (NGX-ASI) increasing by 0.14% to finish at 250,156.80 points. Year-to-date returns reached 60.76%, and market capitalization rose by N228 billion to N162.385 trillion.

The session was marked by bullish sentiment, although market breadth was negative, with 38 stocks gaining compared to 25 losers. Notable gainers included Sunu Assurance, NASCON Allied Industries, Omatek Ventures, and Thomas Wyatt Nigeria, each rising by 10% to close at N3.08, N176.00, N1.32, and N2.53 respectively.

Conversely, Oomu Oil led the losers with a 10% decline to N1,276.20. Total traded volume increased by 9.2% to 574.19 million units, valued at N38.06 billion across 68,655 deals.

Futureview Group anticipates cautious trading this week, while United Capital Plc expects mixed activity influenced by the Central Bank of Nigeria’s Monetary Policy Committee meeting and FTSE Russell’s reclassification.