Nigerian Stock Market Gains N1.91trn on August 31

On Monday, August 31, the Nigerian stock market opened positively, with a notable increase in investor buying interest in heavyweight stocks. The market index rose from 241,298.47 points to 244,199.39 points, marking a 1.20% increase.

The market capitalization surged by approximately N1.91 trillion during this trading session. This bullish performance was largely attributed to gains in several major equities, particularly in the banking sector, consumer goods, and telecommunications.

A total of 606.19 million shares were exchanged, valued at N38.70 billion across 53,471 deals. MTN led in traded value, accounting for approximately N5.72 billion, which is 14.78% of the total value traded.

The year-to-date return for the market strengthened to 56.93%, with 43 equities recording gains compared to 16 decliners.