Nigerian Exchange Gains N4.570 Trillion Amid Investor Demand

The Nigerian equities market experienced a significant increase last week, gaining N4.570 trillion as investor demand surged across selected stocks. The market capitalization of listed equities rose by 2.90% to N162.157 trillion from N157.587 trillion the previous week.

The benchmark NGX All-Share Index (ASI) increased by 2.78% week-on-week, closing at 249,804.56 points. The market breadth was positive, with 52 gainers compared to 32 losers, resulting in a year-to-date return of 60.63%.

Despite a 10.91% decline in trading volume, the number of deals and transaction value rose by 17.63% and 82.85% week-on-week, respectively. Investors traded 3.249 billion shares valued at N237.986 billion across 287,919 deals.

The financial services industry led trading activity, contributing significantly to total equity turnover. The Banking sector rose by 4.43%, while the Insurance sector gained 4.79%, indicating strong investor interest in financial stocks.