Nigerian Equities Gain N392bn, Market Capitalization Rises

On Friday, the Nigerian equities market extended its rally, gaining N392 billion, driven by mid-capitalization stocks. The market capitalization rose to N131.165 trillion from N130.773 trillion, with the NGX share index increasing by 608.61 basis points to close at 203,770.42 points, up from 203,161.81 points the previous day.

Despite a negative market breadth of 31 decliners against 23 advancers, notable gains were recorded by GTCO PLC, UACN, UBA, and WAPCO. The year-to-date return now stands at 30.95 percent.

The trading analysis showed that Trans Express led the gainers' table with a 9.91 percent increase, closing at N3.77 per unit, followed by International Breweries at 9.88 percent and Champion PLC at 9.84 percent. Conversely, Omatek topped the losers' chart with a 10 percent drop, closing at N2.07 per unit.

Trading volume declined to 548.601 million shares, valued at N31.457 billion, down 21.0 percent from the previous day.