Nigerian Stock Market Gains N8.137 Trillion in Rally

The Nigerian Exchange (NGX) extended its weekly rally, with the market gaining N8.137 trillion, reflecting stronger investor confidence and heightened trading activity. The total market capitalization increased to N125.164 trillion, up from N117.027 trillion the previous week, marking a 6.95% rise.

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, 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 overall market turnover.

Notable gainers included Zichi Plc, Japaul Gold, and Betaglass, while RT Brisco and Mecru faced declines. Market analysts expect the positive sentiment to continue, although intermittent profit-taking may trigger mild pullbacks.