Nigerian Stock Market Gains N8.137 Trillion Last Week

The Nigerian Exchange (NGX) reported a substantial weekly rally, with the market gaining N8.137 trillion, bringing total market capitalization to N125.164 trillion, up from N117.027 trillion the previous week. The NGX share index advanced by 12,676.69 basis points, closing at 194,989.77 points compared to 182,313.08 points the prior week.

This growth trend underscores the strength of the rally, driven by heightened investor confidence and increased trading activity, with a year-to-date return of 25.95%. The market breadth remained positive, with 71 stocks recording gains against 41 declines.

Trading volume rose by 20.35%, with investors transacting 7.662 billion shares worth N252.566 billion across 345,118 deals. The financial services industry led trading activity, contributing significantly to the volume.

Notable gainers included Zichi Plc, Japaul Gold, and others, while RT Brisco emerged as the top loser.