Nigerian Equities Gain N10.66bn in Four Days of Trading

The Nigerian equities market has maintained a growth trajectory, gaining N10.66 billion over four days. The market capitalization rose to N155.994 trillion, marking a 7.33% increase from the previous week.

The NGX benchmark share index (ASI) increased by 1,650.32 basis points, settling at 242,277.81 points compared to 225,727.49 points the prior week. Year-to-date returns stand at 55.69%, indicating sustained positive investor sentiment.

However, market breadth weakened slightly, closing with 52 gainers against 53 decliners, suggesting mild selective buying interest. Trading activity remained robust, with total deal volume rising by 11.86% and total value traded increasing by 27.25%.

The financial services industry led trading activity, contributing 77.56% of total equity turnover, with Access Holdings Plc, United Bank for Africa Plc, and Wema Bank Plc being the top traded equities. The market's positive performance is supported by sound fundamentals in large-cap stocks, although recent rallies have triggered intermittent profit-taking.