Nigerian Equities Gain N1.765 Trillion in Three Days

The Nigerian equities market has sustained a bullish run, gaining N1.765 trillion over three days, with the market capitalization increasing to N129.125 trillion from N127.360 trillion the previous week. The NGX share index rose by 2,749.55 basis points, reaching 201,156.85 points compared to 198,407.30 points the prior week.

Year-to-date returns improved to 29.27%, indicating positive momentum in the domestic stock market. This rally was driven by gains in shares such as Zenith and Premier Paint, with 48 equities appreciating in price during the week against 43 that declined, while 57 remained unchanged.

Trading volume rose to 8.761 billion shares, representing a 163.80% increase from the previous week, with transaction values rising by 62.12% to N267.253 billion. The ICT industry led trading activity, contributing 60.84% of total equity turnover, followed by the financial services and consumer goods industries.