Nigerian Equities Market Gains N119bn, Sustains Bullish Trend

On Friday, the Nigerian equities market maintained its bullish run, gaining N119 billion as investor interest in small and mid-cap stocks surged. The market capitalization rose by 0.09%, reaching N126.436 trillion from N126.317 trillion.

The NGX share index appreciated by 161.00 basis points, closing at 196,968.15 points. The market breadth was positive, with 35 gainers compared to 32 decliners, contributing to a year-to-date return of 26.58%.

Eterna PLC led the gainers' table with a 10% increase, closing at N42.35 per unit, followed by Premier Paints with a 9.77% rise to N14.60 per share. Other notable gainers included Union Dicon, ETG Insurance, and John Holt.

Conversely, RT Brisco topped the losers' chart with a 10% drop, closing at N12.06 per unit. Trading volume decreased by 59.06 basis points, representing a 9.32% decline, with 574.952 million shares traded, while the value of transactions rose by 4.71% to N30.101 billion across 62,212 deals.